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
April 2019: A Flat Market Amidst Global Uncertainty
Vietnam’s stock market was flat in April, with the VN Index declining 0.4% in USD terms. The fund’s net asset value (NAV) per share fell 1.5%. Most listed companies have now reported their first quarter results, with overall profit slightly declining (-2% year-on-year), with the main contributor to this decline coming from the property sector given its overweight position in the VN Index. However, we expect growth will resume over the balance of the year and for the full year, we should see an increase in the low teens. The market was also affected by ongoing and escalating trade tensions between the US and China.