Edison issues review on VinaCapital Vietnam Opp

RNS Number : 2268J

VinaCapital Vietnam Opportunity Fd.

21 December 2020

 

London, UK, 21 December 2020

Edison issues review on VinaCapital Vietnam Opportunity Fund (VOF)

VinaCapital Vietnam Opportunity Fund (VOF) has benefited from its differentiated mix of listed and private investments during a volatile year for global stock markets. The authorities' strong response to the COVID-19 pandemic has meant the human impact on Vietnam has been limited, and the main stock market index is up 11.3% year-to-date (to 16 December) as foreign investors have begun to return. However, VOF's NAV total return is up 21.3% over the same period (all in GBP), thanks to the greater stability of its private equity portfolio as well as positive performance from listed holdings, including its largest position in steelmaker Hoa Phat Group, which is benefiting from government stimulus focused on infrastructure spending. The VOF team says that Vietnam - a rare oasis of GDP growth in the economic desert of 2020 - is set fair to be the next 'Asian tiger'.

A bounce in VOF's share price following positive COVID-19 vaccine news in early November has seen its discount to NAV tighten to a 10-year low of 10.2%. However, there is potential for it to narrow further if investor optimism is maintained.

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