VOF
| Share price | 503 |
| Daily % Change | 0.00% |
| NAV per share USD | 8.62 |
| NAV per share GBP | 6.30 |
| Total NAV USD (in millions) | 1,431.7 |
| Total NAV GBP (in millions) | 1,047.1 |
| Published NAV date | 31 October 2021 |
Dividend
| Dividend (USD) | 8.0 cents |
| Declaration date | 25 October 2021 |
| Record date | 5 November 2021 |
| Payment date | 6 December 2021 |
| Go to Dividend Declaration | |
With strong GDP growth, a stable macroeconomic environment, increasing exports, and record levels of foreign direct investment, it is easy to see why Vietnam is considered among the world’s most exciting markets. Half of the population of 95 million is under age 35, and an expanding middle class has created a compelling domestic consumption story that has attracted the attention of companies from around the globe.
VOF gives investors access to a range of carefully selected investments in the listed and private companies that are participating in, benefitting from, and driving the sustainable growth Vietnam is experiencing today.
Latest commentary from our fund manager
“Life can only be understood looking backwards; but it must be lived looking forwards.” – Soren Kierkegaard
The Vietnam Index (VN Index) reached a new high in October to close at 1,444 points, increasing 7.7% month-on-month, and up 34.1% for the calendar year-to-date in USD total return terms ($TR). Vietnam is the best performing market in the region so far this year, outpacing Malaysia (-3.2% YTD), the Philippines (-4.5% YTD), Thailand (3.4% YTD), Indonesia (10.8% YTD), and Singapore (13.2% YTD). Valuations remain very attractive, with a forward 2022E PE multiple of 13.5x-14.0x, which is in line with the five-year and ten-year historical mean, and well below most comparable ASEAN peers despite a highly positive growth outlook.
Market liquidity remained high throughout the month, with average daily turnover value (ADTV) of USD1.2 billion per day (+3% m-o-m), surging to USD1.5 billion during the last few trading days of the month. In fact, for several months now the ADTV of Vietnam has now exceeded that of the Philippines, Indonesia, Malaysia, and Singapore markets. Local retail investors remained the dominant force in the market, representing 93% (of which 86% is retail) of market turnover, with institutional investors making up the remaining 7%. The recent easing of lockdown measures has not abated local investors’ appetites for participating in the stock market.
