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Mutual funds post positive growth
The Viet Nam Fund Management Company (VFM) said its VF1 and VF4 closed-end funds have made significant gains in recent months.
The VF1, which specialises in listed and unlisted shares and bonds, saw its net asset value at the end of last month at VND19,455 (US$1.08) per unit, an increase of 10.7 per cent from the previous month. This signifies an increase in value of 14.6 per cent in the first five months of the year.
The fund has disbursed more than VND193 billion, mainly in January and February, completing more than 60 per cent of its yearly plan.
By end of last month, listed shares represented more than 35 per cent of the fund, showing no change from April while bonds reduced to 12.6 per cent from 19.2 per cent.
Its portfolio mainly comprises infrastructure, real estate, banking, mining, and food and beverage firms.
VF4 certificates gained 13 per cent in NAV compared to April and more than 22 per cent from early this year to VND10,419 per unit.
VFM general director Tran Thanh Tan said its NAV recorded a growth of 4.2 per cent since its establishment in late February 2008, while the VN Index fell almost 40 per cent.
In the first five months, VF4 disbursed VND346 billion, or 90 per cent of the year’s target, focusing on infrastructure, property, banking and financial services.
VNS
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