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
“In investing, what is comfortable is rarely profitable.” – Robert Arnott
April was an uncomfortable month to say the least. The VN Index declined 8.9% for the month, and calendar year-to-date, the VN Index has declined 9.2% (USD, total return terms). In fact, April has been the worst performing month for the VN Index since March 2020 when markets tumbled after the initial outbreak of COVID-19. Subsequent to month’s end, the VN Index fell a further 10% and by mid-May was clearly in bear market territory.
Global markets also slumped on fears of economic slowdown stemming from the prolonged COVID lockdown in China, geopolitical uncertainties surrounding the conflict in Ukraine, rising inflation and weak consumer demand, leading some experts to raise the prospect that this cocktail of worries could lead to recession.