Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens

VinaCapital Vietnam Opportunity Fund

LN: VOF

£585.3m market cap

331p last close

VOF aims to generate capital growth over the medium to long term from investment in Vietnam but it may also have exposure to Cambodia, Laos and Southern China. The investments encompass listed and unlisted companies, debt instruments, private equity and real estate. The principal sector focus is on financial services, property investment, hospitality management and retailing.

Investment summary

VinaCapital Vietnam Opportunity Fund (VOF) is a well-established, FTSE 250 Vietnam specialist fund that invests primarily via privately negotiated deals, with four major deals recently signed or close to completion. The manager takes a fundamental, bottom-up approach and invests on a medium-term view, which leads to many holdings becoming listed while in the portfolio. Longer-term NAV total returns have been good; VOF’s 10.9% pa return over 10 years compares favourably with the VN Index’s 10.5% pa return. The manager expects global stock markets will remain volatile – influenced by prospects for US interest rates and the US administration’s focus on trade protection – which he believes increases the importance of private deal sourcing in generating attractive returns.

Share price graph
Price performance
%
1m
3m
12m
Actual 22.4 13.4 (4.1)
Relative* 10.8 22.6 7.9
52-week high/low 357.5p/214.0p
*% relative to local index
Key management
Andy Ho Investment Manager
Steven Bates Chairman of the board

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