NAV Performance Summary in USD(*)

NAV: USD 33.6m
As of 30/9/2024
VDeF B
Net Profit (%)
VDeF B
Gross Profit (%)
DC liquid
bond index (%)
1 year
VGB (%)
2 year
VGB (%)
5 year
VGB (%)
MoM1.231.341.981.441.461.71
YTD4.385.50-1.53-0.02-0.20-1.05
YoY8.7010.272.800.720.670.99
Since Inception284.79447.04142.3670.9599.75158.35
CAGR8.3510.655.413.244.215.81
Monthly StDev1.441.442.591.261.752.85
Information ratio9.9518.37N/A-12.25-9.824.02

Numbers are internally calculated and unaudited. All indices are before tax and reset quarterly. Information ratios use DC liquid bond index as benchmark.
(*) VDeF paid $40/share for 2020 dividend end of June 2021

Price and NAV Data

VND Returns (%)USD Returns (%)
Net
Assets
NAV/
SHARE
MonthYTDSince
launch
MonthYTDSince
launch
VDeF B$32.2m$2,353.2-0.045.68489.381.234.38284.79
DCB Index--0.71-0.30271.311.98-1.53142.36

(As at 30/9/2024

NAV Performance (%)

(As at 30/9/2024)

Holding Allocation (%)

(As at 30/9/2024

Investment Restrictions

Corporate Debt

Investments may be made in listed or unlisted corporate debt including straight, convertible, equity linked, performance-linked, subordinated, mezzanine and/or or collateralised debt obligations, preferred shares or money market instruments, in VND or any other lawful currency of any country. This may include debt owed or guaranteed by the Government of, or provinces or municipalities in, Vietnam.

Money Market

Up to 100% of NAV may be invested in non-VND cash and money market instruments.

Equity-Linked

Investments in equity-linked instruments, provided that the total equity delta does not exceed 25% of NAV at the time of investment. Equity issued on conversion or exchange of any equity-linked instrument, or as a result of any restructuring, may be retained.

Derivatives

Investment in currency swaps, hedges, derivatives and structured products is permitted, provided no more than 20% of gross assets are exposed to the creditworthiness or solvency of any one such counterparty.

Solvency

Not more than 20% of gross assets may be exposed to the creditworthiness or solvency of a single corporation or single government instrument (each sovereign, province or municipal authority will be treated as a separate entity for this purpose).

Other

Borrowings are permitted up to 50% of NAV. Investments in closed and open ended funds is permitted. The Modified Duration shall not exceed eight.

Aggregate Exposure

Up to 35% of NAV (calculated at time of investment) may be made in any of the above identified classes of investment issued or guaranteed by businesses focused on any country or region in Asia or government entities of any country in Asia provided aggregate investments in this category do not exceed 35% of NAV at the time of investment.

Fund Detail

Country of IncorporationCayman Islands
Stock ExchangeEuronext Dublin
Inception Date19 December 2007
Issued SharesB Share 14,773
BenchmarkDC Liquid Bond Index
ValuationMonthly
Fund CurrencyUS$
Legal Entity Identifier (LEI)2138002PCB4JDKP1LB08

Fees and Trading

Management Fee1% p.a. (monthly in arrears)
Performance Fee10% on excess of 3 month's Libor + 3%, compounded annually with a high water mark
Subscription FeeUp to 2%, at the discretion of Dragon Capital
Minimum InvestmentUS$100,000
SubscriptionFive days
Redemption Charge2%, at the discrection of Dragon Capital
RedemptionOne month
ISINKYG936151136
SEDOLB3K9234
CUSIPG93615113
BloombergDGCP or VNDEBTB

(As at 05/09/2019)

NGUYEN THI TUYET HONG

Head of Debt Investments

Hong received a BA in Accounting and Auditing from HCMC Economics University in 2003, and a Masters in Actuarial Science from Lyon’s Claude Bernard University in 2006. She joined Dragon Capital in 2007 as a fixed-income analyst, focusing on investment strategy and corporate risk analysis. In the course of her responsibilities she has acquired extensive experience in quantitative modelling. Hong was appointed Deputy PM of VDEF in 2012. In 2022, Hong becomes Head of Debt Investments of DCVFM. She is a CFA Level-3 and FRM qualified member.

Key fund information

Factsheet

31 Aug 2020

Factsheet

30 Jul 2020

Factsheet

30 Jun 2020

Factsheet

31 May 2020

Factsheet

30 Apr 2020

Factsheet

31 Mar 2020

Factsheet

29 Feb 2020

Factsheet

31 Jan 2020

Factsheet

31 Dec 2019

Factsheet

30 Oct 2019

Factsheet

30 Sep 2019

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