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In May, the NAV of VOF and VNI declined while the VN Index of Hochiminh Stock Exchange (STC) dropped 9.4 percent in month (NAV of VNL is updated quarterly).
The discount rate (the difference between the market price of fund certificate and NAV of fund certificate) of VOF as of the end of May reached 34.2%, lower than 35.2 percent in the end of April. Meanwhile, the discount rate of VNL and VNI was respectively at 56.7 percent and 53%, higher than 51.7 percent and 46 percent in the end of previous month.
VinaCapital Vietnam Opportunity Fund (VOF)
The fund’s total NAV declined 2.5 percent in May to $742.9 million as of the end of May. However, comparing to early this year, the fund’s NAV surged 5.7%.
In comparison with the end of April, the fund’s top five holdings for listed shares saw changes. The holding of VNM and PNJ remained unchanged while the holding for EIB surged from 7.1 percent of NAV to 7.3 percent of NAV whereas the holding for HPG and KDC declined.
As of the end of May, VOF’s cash and cash equivalents decreased to 5.3 percent of NAV or over $11.4 million from the end of April.
Vietnam Infrastructure Limited (VNI)
The fund’s NAV as of the end of May reached $192.5 million, down 3.4 percent from the end of April. In the fund’s asset portfolio, the holding for CII decreased from 4.3 percent of NAV to 3.3 percent of NAV. The fund’s cash and cash equivalents till the end of May were $33.1 million, or 17.2 percent of its NAV, lower than $34.6 million in the end of April.
VinaLand Limited (VNL)
The fund’s NAV is updated quarterly. Till the end of March, the NAV of VNL reached $574 million, down 2 percent from the same period last year.
The fund’s investments in residential area projects accounted for 41 percent of its NAV, mixed assets at 27.2 percent of the fund’s NAV, town areas at 22.8 percent of its NAV and service real estate areas (hotels and resorts) at 9%.