As of 30 June 2019

Inception date 24/12/2013
License number 07/GCN-UBCK
Supervisory bank Standard Chartered Bank
Auditor Ernst & Young
Distributors SSI, Vietcombank, VCBS
Profit distributions N/A
Net Asset Value * VND 253,636,845,691 

NAV/unit 19,220.93 
NAV change since last month 1.39%
YTD Total Return at NAV 1.39%
Highest NAV/ unit (52w) 21,133.94
Lowest NAV/ unit (52w) 17,790.29
Number of outstanding units * 12,835,717.09 
% of foreign ownership * 20.44%
Distribution rate at NAV * n/a
Expense ratio and Turnover rate

Operating expense rate (%) * 1.98%
Portfolio turnover rate (%) * 2.82%
 Portfolio Positions * 42 
(*) Update at 31/07/2019


The fund has flexibility in asset allocation taking either defensive or aggressive postures depending on opportunities available at various points in time. Under normal market conditions, the fund will invest 50% of its NAV in equity and 50% in high quality fixed income assets.


Investment objectives

The fund seeks long-term total return via growth of capital and current income.


Investment strategy

The fund invests in a diversified portfolio of listed common stocks, primarily in stocks with large market capitalization and Vietnam Government bonds, municipal bonds or bonds guaranteed by the Government or high quality listed corporate bonds.


The fund actively seeks an optimal mix of equity and fixed income by evaluating risk and return of investment opportunities across the asset classes.

The fund follows a blend of value and growth style of equity investing and follows a bottom-up approach to stock-picking by valuing fundamentals of the companies.



The fund offers a broad diversification and balanced exposure to the asset classes, making it attractive as a solid core holding in an investor’s portfolio.


The fund benefits from a flexible asset allocation strategy when economic conditions change.

VCBF Tactical Balanced Fund is 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 July 2019
Asset Mix    


Bond & Cash


Industry Breakdown
Banks 15.1%  
Industrial Goods & Services 14.0%  

Food & Beverage

Telecommunications 9.8%  
Construction & Materials     Telecommunications 7.8%  
Technology 7.9%  
Retail 6.1%  
Oil & Gas


Utilities 4.8%  
Automobiles & Parts 4.5%  
Health Care 3.7%  
Chemicals 2.6%  
Real Estate 2.0%  
Financial Services 1.6%  
Agriculture 1.9%  
Watering service 2.0%  
Personal & Household Goods 0.8%  
Top 05 holdings

Company short name % of NAV
Masan Corporation’s Bonds  


Vietnam Dairy Product JSC (VNM)  


Mobile World Investment Corporation (MWG)   5.1%
FPT Corporation (FPT)   5.1%

HaDo Bond (HDG Bond)






  • Ms. Nguyen Thi Hang Nga, MCom, CFA, 17 years of investment and audit experience.
  • Ms. Dương Kim Anh, Master of Economics in Banking & Finance, 17 years of investment and investment consulting experience. 
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