Edison reviews VinaCapital Vietnam Opp. Fund (VOF)

RNS Number : 5050Z

VinaCapital Vietnam Opp. Fund Ltd

15 December 2017

 

London, UK, 15 December 2017

Edison reviews VinaCapital Vietnam Opportunity Fund (VOF)

VinaCapital Vietnam Opportunity Fund (VOF) is one of the largest specialist Vietnam funds. VOF invests primarily in public and private equity, with a smaller percentage in real estate. Management believes the fund's key differentiator to be the access it offers to off-market deals. VOF provides broad exposure to Vietnam's economic growth prospects. It focuses on domestic sectors that are well positioned to benefit from continued urbanisation and investment-led economic development, most notably consumption, construction, infrastructure and real estate. In November VOF appointed Frostrow Capital to act as its marketing and distribution partner in the UK, with the aim of enhancing the fund's engagement with current and potential shareholders, financial advisers and fund analysts, increasing liquidity in the shares and narrowing the discount to NAV.

VOF's share price discount to NAV of 18.7% is narrower than the three-year average of 21.8% and has stabilised markedly since late 2016. While progress has been made through ongoing share repurchases and the introduction of a dividend, there is still room for improvement in narrowing the discount. The outperformance of the fund's NAV in recent years and the inclusion last year of its shares in the FTSE All-Share and Small Cap indices may contribute to a positive re-rating of the shares.

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