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

VinaCapital Vietnam Opportunity Fund

LN: VOF

£562.3m market cap

323p last close

VinaCapital Vietnam Opportunity Fund (VOF) is a closed-end investment company that seeks to achieve medium- to long-term capital appreciation through investment in assets in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in, or derived from, Vietnam. The portfolio includes listed and unlisted equities, as well as debt instruments, covering a broad range of sectors.

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 (3.0) 10.6 (9.1)
Relative* (3.7) 4.1 4.4
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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