Dragon Capital Vietfund Management (DCVFM) | Fund Factsheet

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VFMVFB – FUND PERFORMANCE

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General Information

Fund name DC Bond Fund
Fund code DCBF
Fund Type Bond fund
Currency VND
Inception date 2013-06-10
Conversion date 0000-00-00
Fund Manager Dragon Capital Vietfund Management (DCVFM)
Custodian Bank Standard Chartered Bank VN
Transfer Agency Vietnam Securities Depository (VSD)
Distributors See homepage dragoncapital.com.vn
Management fee 1,2%
Subscription fee 0%
Redemption fee 0% - 2% tùy thời gian nắm giữ
Switching fee 0% - 1% tùy thời gian nắm giữ
Trading cycle Every Friday (T day)
Cut-off time 14h30 on T-1 day
Dividend Annually (upon AGM approval)
Total NAV (VND bn) 829.6
Number of outstanding shares (mn) 36.3
12-month Expense Ratio (%) 1.4
12-month Turn-over Ratio (%) 200.9

investment objectives

The objective of VFMVFB is to achieve income primarily from investments in fixed income securities (including but not limited to Vietnamese Government bonds, Government guaranteed bonds, municipal bonds, corporate bonds in accordance with Vietnamese law, etc.), commercial notes and money market instruments.

fund performance

In March 2016 VFMVFB purchased and sold a bond. VFMVFB bought 50 billion par value of 10-year bonds through auction and sold the bond within the month. The Fund recorded a small capital loss for the transaction and this is the reason for the slow growth of fund NAV/unit in March 2016 compared to the previous month. The Fund continues to employ high frequency of transaction strategy in Q1 2016 represented by a fund turnover of 474.9% in the quarter, higher than 454.8% of 2015. The proportion of the fund’s asset allocation at 03/31/2016 is much different compared to the month of February 2016 due to high cash weight after selling bonds at the end of March (weight of deposit and cash in the total net asset value at the 31 March 2016 is 59.75%). Investments in certificates of deposit accounted for the second largest portion in the portfolio at the end of March 2016.

VFB net asset value per unit at 31/03/2016 is VND 12,817.53, increase VND 12.63 /unit (equivalent to 0.1%) compared to the corresponding number at the end of February and up 1.59% compared to the value at 31 December 2015. The growth in March of the fund is lower than the growth of the Total Return Composite Bond Index released by Hanoi Stock Exchange in the period (0.49%). However, 12-month return of the fund is 5.5% at 31 March 2016, 0.8% higher than the 12-month growth of the index mentioned above. Growth in Q1 of VFMVFB (1.59%) ranked second in the market (lower than the market leader by 0.1%) and is significantly higher than the other funds (having growth of 0.8% and 0.2% for 1Q 2016).

2015 Annual General Meeting (AGM) of VFB is held on 05 April 2016 in Ho Chi Minh City. The AGM has approved the audited figures of the fund for 2015. The AGM also approved the proposal not to pay dividends for financial year of 2015 and investment plan for 2016. The investment in 2016 will focus on minimizing the risk to the fund portfolio given expectation of a volatility market during the year.

Performance Chart

Rate of Return

As of: 
NAV/đvq & Index 1 month 3 months YTD 12 months Since Inception 

asset allocation by asset class (% nav)

As of: 

disclaimer

This document is issued by VietFund Management (VFM). The information herein is deemed reliable sources by VFM, based on published sources and VFM isn’t responsible for the accuracy of the information herein, except the information, data of Funds managed by VFM and provided in this document. This document reflects the views and assessments of the author at the time of issue, for references only and may change without notice. This document is neither a prospectus nor an offer or any commitment of VFM or Funds managed by VFM. VFM hasn’t obligation to update, revise this document in any form in the case of opinions, forecasts and estimations in this document changes or becomes inaccurate.