As of 30 Sep 2020


Symbol VCBF-FIF
Inception date 09/08/2019
License number 40/GCN-UBCK
Supervisory bank Standard Chartered Bank
Auditor Ernst & Young
Distributors VCBF, VCB, VCBS
Profit distributions N/A
Net Asset Value  VND 71,825,852,705


 
NAV/unit 10338.9
NAV change since last week 0.52%
YTD Total Return at NAV 1.67%
Highest NAV/ unit (52w) 10,338.9
Lowest NAV/ unit (52w) 9,997.36
Number of outstanding units  6,710,526.58
% of foreign ownership * 0.82%
Distribution rate at NAV * N/A
Expense ratio and Turnover rate

Operating expense rate (%) * 1.69%
Portfolio turnover rate (%) * 12.99%
 Portfolio Positions * 04 security
   
   
(*) Update at 30 Sep 2020

OVERVIEW

VCBF Fixed Income Fund is a bond fund with 100% of its NAV invested in high quality fixed income assets.

 

INVESTMENT OBJECTIVES

The Fund's main investment objective is to preserve initial capital and to generate regular income by investing in fixed income assets.

 

INVESTMENT STRATEGY

The Fund will follow a straightforward, disciplined investment strategy seeking income.

The Fund will maintain a diversify portfolio of high quality fixed income assets, mainly Vietnam Government bonds, Government backed bonds, municipal bonds and high quality corporate bonds.

Based on the Manager's assessment of the macroeconomic situation and interest rate trends, the Manager will allocate assets to achieve the Fund's objectives.

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For Government bonds, Government guaranteed bonds and municipal bonds, the Manager focuses on maturity management, chooses bonds depending on interest rate expectations, and the liquidity of different terms.

For corporate bonds, the Fund Manager applies a bottom-up approach based on the basics of the enterprise. The Fund will consider investing in bonds of issuers with good financial status, stable cash flow and high debt repayment capability.

BENCHMARK

The benchmark is the rate of return of 10 (ten) year bonds issued by the Government of Vietnam.

 

BENEFITS

The Fund offers relatively stable returns which are expected to be higher saving interest rates. The expected return of the Fund is over 8% per year.

The Fund has other benefits as an open-ended fund. You can read more about benefits of an open-ended fund in “Benefits of OEFs” item on menu “Open-end funds”

 

Portfolio Details  
As of 30 Sep 2020
Asset Mix
Corporate Bonds 45.2%
Certificates of Deposit

32.6%

 Term Deposits 22.1% 
 
Top 05 holdings

   
 Company short name    % of NAV
     
Masan bond (MSN11906)  

14.5%

Vincom Bond (VIC11814)   11.4%
Vinhome bond (VHM11801)   10.1%

Hado Bond 2020.02 (VN0HDG210822)

  9.3%
     
Total  

45.2%

 

  • Ms. Nguyen Thi Hang Nga, MCom, CFA, 19 years of investment and audit experience.
  • Ms. Dương Kim Anh, Master of Economics in Banking & Finance, 20 years of investment and investment consulting experience.

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