Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

1800 1203

VFMVFB – 10/2016


In October 2016, there was no notable event occurred to VFMVFB. The Fund continued to hold its 5-year bond position and conduct REPO transaction with the bond as collateral. The fluctuations of 5-year government bond yield in October did not have any significant effect on the NAV growth of VFB within this month. At the end of the month, VFB allocated 36% of its assets in government bond, 34% in term deposits and 27% in certificate of deposits of different terms.

At the end of October 2016, Net Asset Value per Share (NAVPS) of VFMVFB achieved VND 13,739.91, increased 1.0% compared to 30th Sep 2016 and increased 8.9% compared to 31st Dec 2015. Since its inception, VFMVFB has generated NAVPS growth of 37.4%, outperformed the benchmark in the same period. The monthly growth of VFMVFB achieved 1.0% in October 2016, lower than the 1.2% return of the HNX Total Return Bond Index – HNXTRB. Within this month, HNXTRB Index has increased well due to the decrease in yield of 7-year and longer bonds, together with another downward movement of 2-year bond yield while there was almost no change in 5-year bond yield. As of 31 October 2016, the NAVPS of VFMVFB has grown 10.7% compared to the same period of last year. Under the current circumstances, VFMVFB will actively search for opportunities to invest in corporate bond and utilize the chance to enhance the Fund’s profit by holding government bonds.