As of 30 Apr 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 62,329,800,661 


 
NAV/unit 10338.9
NAV change since last month 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 * 6,016,517.24
% of foreign ownership * 0.23%
Distribution rate at NAV * N/A
Expense ratio and Turnover rate

Operating expense rate (%) * 2.76%
Portfolio turnover rate (%) * 39.10%
 Portfolio Positions * 04 security
   
   
(*) Update at 30 Apr 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 Apr 2020
Asset Mix
Corporate Bonds 41.86%
Certificates of Deposit

36.90%

 Term Deposits 21.24% 
 
Top 05 holdings

   
Company short name % of NAV
     
Masan bond (MSN11906)  

16.0%

Vincom Bond (VIC11814)   12.9%

Ha Do Bond HDG 10% 11/SEP/2020

  8.0%
Vinhomes Bond (VHM11802)   4.8%
    -
Total  

41.9%

 

  • 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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