RCS - VietNam Holding Ltd - Edison issues update on VietNam Holding (VNH)

VietNam HoldingAnnouncement

26/10/2022 08:00

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RNS Number : 1561E  VietNam Holding Limited  26 October 2022

London, UK, 26 October 2022

 

Edison issues update on VietNam Holding (VNH)

VietNam Holding (VNH) seeks to capture the growth of Vietnam through an
actively managed, high-conviction portfolio of companies. In its October 2022
report, the IMF upped its 2022 GDP growth forecast for Vietnam to 7% from 6%
three months ago, while it expects the world to grow at 3.2%. Vietnamese
growth paves the way for the continued expansion of domestic consumption and
Dynam's investment team chooses a tightly focused selection of businesses set
to benefit from the positive demographic, industrial and urbanisation trends.
VNH greatly differentiates itself from global equities and, despite the recent
market weakness as Vietnam was not immune to the global markets' sell-off, has
strongly outperformed the MSCI AC World Index over the current manager's
tenure (over four years).

 

We believe this country specialist fund offers investors exposure to a
high-growth frontier market with conviction stock ideas across the market cap
spectrum. VNH has 23 holdings and the top 10 make up c 66% of the portfolio
(at end-September 2022). VNH's performance relative to the index can be
volatile, as it has been over the past 12 months. Despite the current gloomy
global macroeconomic outlook, the manager expects VNH's portfolio to withstand
the uncertain times. The team aims to use the c 11% cash within the portfolio
to buy into emerging opportunities for the performance to pick up momentum
when the global economy turns the corner.

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