VINACAPITAL VIETNAM OPPORTUNITY FUND LIMITED | RNS Reach Story | ||
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London, UK, 19 December 2019
Edison issues review on VinaCapital Vietnam Opportunity Fund (VOF)
VinaCapital Vietnam Opportunity Fund (VOF) is a well-established, FTSE 250 Vietnam specialist fund that invests primarily via privately negotiated deals, with four major deals recently signed or close to completion. The manager takes a fundamental, bottom-up approach and invests on a medium-term view, which leads to many holdings becoming listed while in the portfolio. Longer-term NAV total returns have been good; VOF's 10.9% pa return over 10 years compares favourably with the VN Index's 10.5% pa return. The manager expects global stock markets will remain volatile - influenced by prospects for US interest rates and the US administration's focus on trade protection - which he believes increases the importance of private deal sourcing in generating attractive returns.
The board has taken a number of actions since 2016 to support VOF's share price discount to NAV narrowing. The current 13.8% discount is lower than its 15.2% to 19.9% averages over one, three and five years, but wider than the 8.7% peer group average. VOF started paying regular dividends in 2017; its current 2.6% yield is the third highest in the peer group.
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Edison review on VinaCapital Vietnam Opp Fund - RNS
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VinaCapital Vietnam Opportunity Fund Ltd. published this content on 19 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2019 14:55:00 UTC
