VietNam Holding’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 Limited.
VietNam Holding (VNH) aims to generate long-term capital growth through investing in companies listed in Vietnam, employing a fundamental approach. The fund has undergone significant changes since September 2017, including the appointment of a new board and management company, to address previous governance and performance shortcomings. The wide discount to NAV partly reflects these historic issues, and has been amplified by weak investor appetite for Vietnam equities due to uncertainties such as the impact of the coronavirus outbreak. The restructured VNH may provide long-term investors with the opportunity to participate in Vietnam’s strong medium- to long-term economic prospects, with the potential of a narrowing discount should some of the above concerns be alleviated.