RCS - VinaCapital Vietnam - Edison issues review on VinaCapital Vietnam Op. Fd

VinaCapital Vietnam Opportunity FundAnnouncement

19/12/2022 10:30

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RNS Number : 1688K  VinaCapital Vietnam Opportunity Fd.  19 December 2022

London, UK, 19 December 2022

 

Edison issues review on VinaCapital Vietnam Opportunity Fund (VOF)

VinaCapital Vietnam Opportunity Fund (VOF) posted a -17.1% sterling NAV total
return (TR) over the 12 months to end-November, outperforming the Vietnam VN
Index (-28.0% TR in sterling and -29.0% in local currency), and its two
London-listed peers, amid an increase in global market volatility. The
manager, VinaCapital, believes that in 2022 Vietnam's stock market has sold
off consistently with global markets. Recent volatility and selling pressure
has been exacerbated by margin calls triggered for both institutional and
private investors. Despite this, VinaCapital is confident that in 2022-23
Vietnam's economic growth and listed companies' aggregate earnings will remain
strong and intact.

 

VinaCapital's team has many years of experience in sourcing and structuring
the private deals that have formed the bedrock of the VOF portfolio. In 2022
VOF's private equity ethos and significant exposure to non-public holdings
clearly set it apart amid greater stock market volatility driven by fears over
inflation, China and the war in Ukraine. VOF's mid- and long-term performance
has been strong, with NAV and share price total returns in excess of 10% pa
over one, three, five and 10 years. The recent market sell-off means that via
VOF overseas investors can access private Vietnamese businesses (otherwise
inaccessible to them) and at favourable valuations. At a c 15.5% discount to
NAV, potential investors may see a good entry opportunity.

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