About

History

In the early 2000s, Vietnam’s evolution into a modern developing country was starting to take shape. The country was emerging from decades of conflict and the economic reforms that were launched in the late 1980s, commonly referred to as “Doi Moi,” were beginning to have a positive impact.

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Creating Prosperity Together

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It is an up-and-coming powerhouse. Most people, if they are familiar with Vietnam, know that it is the new tiger economy of Asia

Don Lam

CEO | Founding Partner

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From an interview with

Quest Means Business

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Recognizing the enormous potential for growth, Don Lam and a small group of partners founded VinaCapital in 2003 to promote Vietnam’s opportunities to international investors.

After raising an initial USD 10 million VinaCapital launched the Vietnam Opportunity Fund, one of the first opportunity funds in Vietnam, investing across asset classes and giving investors access to not just to the limited universe of listed companies (less than 30 companies at the time) but also privately held businesses (including Kinh Do and Hoa Phat Group) and state-owned enterprises undergoing privatisation (including Vinamilk). Our investments have proven instrumental in helping these companies to grow and become market leaders in their respective sectors.

Today, VOF continues to provide the only platform for international institutional and retail investors to access Vietnam’s most promising listed and privately held companies. With ~USD 1 billion assets under management, VOF’s proven investment strategy has consistently delivered solid long-term returns to investors for more than 20 years.

With the implementation of a new set of transformative policies that many are referring to as “Doi Moi 2.0,” Vietnam’s economic evolution continues apace, and VOF continues to be the only fund that gives international investors access to the most compelling opportunities in the market today and tomorrow.

Our Genesis

2003

2008

2011

2016

2017

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2003: Vietnam Opportunity Fund (VOF) established with USD10m and first traded on the London Stock Exchange’s AIM

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2007: Andy Ho becomes portfolio manager

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2008: VOF changed its name to the “VinaCapital Vietnam Opportunity Fund”

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2011: VOF started Share Buyback Programme

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2016: VOF migrated to the Main Market of the London Stock Exchange and became a constituent of the FTSE Russell 250

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2017: VOF declared its first dividend

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2025: Khanh Vu becomes portfolio manager

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Past performance is not a reliable indicator of future results. The value of shares and the income from them can go down as well as up as a result of market and currency fluctuations and investors may not get back the amount they originally invested. Investment in unlisted securities is likely to carry more risks than investment in listed securities. An investment in VinaCapital Vietnam Opportunity Fund entails risks which are described in the most recent annual report and Key Information Document, both of which are available on this website.

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