Dragon Capital Fund invests up to 33.5% of its portfolio in banking securities

Foreign fund Vietnam Enterprise Investment Limited (VEIL), which belongs to the Dragon Capital fund group, has just reduced the proportion of cash in its assets to an extremely low level, only 0.65%. In addition, this fund also allocates a large amount of assets to the Vietnamese stock market.

VEIL fund's assets are estimated at more than 1.66 billion USD with the proportion as of mid-March being more than 99% in stocks, cash accounting for 0.65% and the fund's performance is positive 2.55% compared to the beginning of 2023.

Dragon Capital Fund increases the proportion of bank stocks in its portfolio to 33.5%. (Photo TL)

Regarding the portfolio of stocks held by VEIL as of March 16, it can be seen that most of them are banking and real estate stocks. Of which, the top 5 positions have 3 banking stocks including: VPBank (VPB) accounting for 13.79%; ACB Bank (ACB) accounting for 13.13%; Vietcombank (VCB) accounting for 6.58%.

In addition, the top 5 also includes 2 stocks of the retail and manufacturing industry, Hoa Phat Group (HPG) accounting for 7.18% and Mobile World (MWG) accounting for 5.97%. The remaining 5 names in the list include: FPT Group (FPT) with 4.74%; PV Gas (GAS) with 4.56%; Becamex IDC (BCM) with 4.5%; Vinhomes (VHM) with 4.47%; Nha Khang Dien (KDH) with 3.17%.

With the proportion of the top 10 bank stocks accounting for 33.5% of VEIL's total capital, it can be seen that this fund is tending to concentrate a large amount of resources on the banking industry. Reducing the cash holding ratio to only 0.65% also shows the foreign fund's expectation for the market recovery in the rest of 2023.

Source: https://www.congluan.vn/quy-dragon-capital-don-toi-335-danh-muc-vao-chung-khoan-ngan-hang-post241496.html