VinaCapital Vietnam Opportunity Fund (VOF) posted a growth rate of 2.2 per cent in net asset value (NAV) per share in October 2019, beating the benchmark VN-Index growth of only 0.2 per cent. — Photo cafef.vn
HÀ NỘI — VinaCapital Vietnam Opportunity Fund (VOF) has reported net asset value per share growth was 2.2 per cent in October.
In October, the benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up total 0.2 per cent.
Driving VOF’s net asset value (NAV) was the increases of heavy weights in the fund’s portfolio – Khang Điền House (HoSE: KDH), Airports Corporation of Vietnam (UPCoM: ACV) and Phú Nhuận Jewellery (HoSE: PNJ).
Shares of the three companies rose between 2.7 per cent and 3.9 per cent in October as their third-quarter earnings grew better than expected.
On the opposite side, weighing on the fund were steel producer Hòa Phát (HPG) and dairy firm Vinamilk (VNM).
Hòa Phát shares edged down total 0.7 per cent last month while Vinamilk shares gained slightly 0.2 per cent in total.
Besides those five companies, another five in VOF’s top 10 holdings were Eximbank (HoSE: EIB), Quảng Ngãi Sugar (UPCoM: QNS), Orient Commercial Bank, construction firm Coteccons (HoSE: CTD) and PetroVietnam Technical Services (HNX: PVD).
Total value of the shares held by VOF was US$935.6 million. Sixty-three per cent of the shares were listed, while unlisted equity accounted for 17.9 per cent of the total value.
The fund also invested in bonds (3.3 per cent of the total value), private equity (14.2 per cent) and operating assets (1.5 per cent).
Heavy-weight sectors in VOF’s list of investee companies were real estate and construction (19.2 per cent), food and beverage (16.6 per cent) and construction materials (11.1 per cent).
In October, PetroVietnam Technical Services replaced HDBank in VOF’s investee companies list. In August, VOF announced it had exited aviation firm Vietjet.
After 10 months, the fund recorded a 0.9 per cent decline of NAV per share while the benchmark VN-Index had advanced total 11.8 per cent in USD terms. — VNS