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
November: No early holiday joy for Vietnam’s stock market
Christmas did not arrive early for Vietnam’s stock market, which struggled to maintain its 1,000 points footing and declined 2.8% in USD terms for the month. The decline was mainly attributable to a couple of events. First, Sabeco (SAB), the leading beer company, saw its shares decline 13% for the month as Heineken sold less than a percent out of its 5% stake at slightly below market price. Given that Thai Beverage is a major strategic shareholder of SAB, we suspect that Heineken’s intention to remain involved in Sabeco’s business and its ability to increase its stake is not feasible. SAB’s stock drop contributed nearly a quarter of the VN Index’s loss in November…