Products and Service > VF1 > IntroductionVietnam Securities Investment Fund - VF1Introduction VF1 is Vietnam's first closed-end public fund which attracts various domestic and oversea individual and institutional investors. The initial chartered capital of VND300 billion was raised within 10 days in April, 2004 and VF1 has been listed on Ho Chi Minh Stock Exchange since November 2004. VF1 aims to build a balanced diversified portfolio with the purpose of return maximization and risk reduction. Majority of the investment decisions will focus on listed and unlisted shares, corporate and government bonds and other financial instruments in Vietnam financial market. Moreover, the investment objectives will also target in financial restructuring, management and competition capability enhancement of invested companies, hence improving VF1 investment value. Key Facts:- 2004: Established with charter capital of VND300 billion (USD18.2 million)
- 2006: Increased charter capital to VND500 billion (USD30.3million)
- 2006: The best performing fund in the emerging market (link to 1 LCF Rothschild Country Fund Research - Daily Parity Sheet 8 Jan 2007)
- 2007: Increased chartered capital to VND1, 000 billion (USD60.6million)
- 31 December 2007: total NAV was VND3, 837.1 billion (USD232.6 million)
VF1 has become the largest and most liquid domestic fund Fund information
| | Fund name | Vietnam Securities Investment Fund | | Fund type | Close-ended public fund | | Abbreviated name | VF1 investment fund | | Trading code | VFMVF1, listed at HoSE | | Fund size | VND1,000 billion | | Par value | VND10,000/unit | | Inception date | May 20, 2004 | | Fund Term | 10 years | | Custodian | Vietnam Commercial Bank (Vietcombank) | | Auditor | Ernst & Young Vietnam Ltd. | | Dividend | Based on realized return and approved by Annual General Investors Meeting | Fund fee
| - Management fee: 2%/NAV/year
- Annual custodian & deposit fee: 0.12%/NAV/year
- *Incentive fee
*Detailed in Fund Charter | | Fund licenses | | License of issuing fund units | License no. 01/GP-QDT dated March 24, 2004 by State Securities Commission | | License of fund operation | License no. 01/UBCK-DKQDT dated May 20, 2004 by State Securities Commission | | License of listing fund units | License no. 01/UBCK-NYQDT dated September 22, 2004 by State Securities Commission |
For more understanding of the Fund objective, fees, risks; the prospective unit holders & investors should read and understand the contents of the Fund's Charter; Prospectus and, if necessary, consults their adviser(s).
Past earnings on the fund's distribution record is not a guarantee or reflection of the funds' future earnings/future distribution. | 
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