VietNam Holding

LN: VNH

Market Cap£88m

Last Close 300p

VNH’s investment objective is to achieve long-term capital appreciation by investing in a diversified portfolio of companies that have high growth potential and an attractive valuation. The fund has experienced several significant changes since September 2017, including a new board and appointment of the current manager, Dynam Capital.

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Investment summary

2021 was a remarkable year for the Vietnamese equity market, with the VN All Share Index (VNAS) rising 53.0% compared with a 1.3% fall in the MSCI Emerging Markets (EM) Index. VietNam Holding (VNH), managed by Dynam Capital (Dynam) for over three years, returned 65.6% (NAV total return), outperforming the VNAS. Vietnam has handled COVID-19 with some lag to the developed world (as the pandemic visibly hit Vietnam in 2021, rather than 2020), but the situation has now stabilised. For 2022 the IMF forecasts that the Vietnamese economy will grow 6.6%, outpacing the expected world GDP growth of 4.9%. Dynam’s investment team chooses a tightly focused selection of businesses for VNH’s portfolio. These are set to benefit from well-established positive demographic, industrial and urbanisation trends, as well as newly emerging trends such as rapid growth and the development of financial markets in Vietnam.

Content on VietNam Holding
VietNam Holding – Moving ahead
Investment companies | research Review | 8 February 2022
Businessman touching data analytics process system with KPI financial charts, dashboard of stock and marketing on virtual interface. With Vietnam flag in background.
VietNam Holding – The next five years and beyond
Investment companies | research Review | 28 June 2021
Businessman touching data analytics process system with KPI financial charts, dashboard of stock and marketing on virtual interface. With Vietnam flag in background.
VietNam Holding – ‘Bun Bo Biden’ prospects in Vietnam
Investment companies | research Review | 15 December 2020
Businessman touching data analytics process system with KPI financial charts, dashboard of stock and marketing on virtual interface. With Vietnam flag in background.
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Share price graph
Price performance
%
1m
3m
12m
Actual (9.9) (4.2) 29.3
Relative* (9.3) (3.7) 24.7
52-week high/low 358.0p/233.0p
*% relative to local index
Key management
Craig Martin Portfolio Manager
Sean Hurst Non-Executive Chairman

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