I wrote this article myself, and it expresses my own opinions. The Committees responsibilities include: reviewing the performance of the Investment Manager under the Investment Management Agreement and to consider any variation to the terms of the agreement. London Stock Exchange uses cookies to improve its website. . One of my favorite things about coming back to Vietnam is catching up with Bui Ngoc Anh - former colleague, boss, mentor. VINACAPITAL VIETNAM OPPORTUNITY FUND LD VOF Company page - Search stock, chart, recent trades, company information, trading information, company news, fundamentals. I would point out though that the U.S. might envy Vietnam in that the latter at least started the year with clearly positive real interest rates. These factors were highlighted in many articles speculating when Vietnam might be upgraded to emerging market status. It's possible that those who aren't too familiar with the Vietnam stock market simply see the political system and place it in the "too hard" basket, given all the developments in 2022. While exploring those in detail would be an article in itself, a few funds do come to mind, which I shall mention. VinaCapital Vietnam Opportunity Fund (VOF) - VinaCapital VOF invests growth equity in privately negotiated opportunities across listed, private equity and assets. The Board considers that reporting against the Principles and Provisions of the AIC Code, which has been endorsed by the Financial Reporting Council and the Guernsey Financial Services Commission provides relevant information to shareholders. Most investors would consider such a P/E ratio on its own as cheap. According to filings with the London Stock Exchange, VCVOF's performance relative to the index improved as their NAV only fell 5.1% for June. A 20% discount to NAV makes VCVOF (note that I own this via its London listing, as the U.S. listing is less liquid) a logical way for investors to buy the Vietnam stock market dip in 2022. Just from the share price trend we can see a major positive difference. We have adopted a Responsible Investment policy to formalize our approach to incorporating environmental, social, and corporate governance considerations across our investment activities. This becomes clearer when one examines active management in Vietnam vs. the performance of various Vietnam ETFs. Overall, quite an interesting assessment of M&A both during the tail-end of 2022 and projecting over the coming first few months of 2023. I have no business relationship with any company whose stock is mentioned in this article. The Remuneration Committee comprises all independent Directors and is chaired by Ms Dam. VinaCapital Vietnam Opportunity Fd. I shall now focus on some of the key events that have unfolded over the last three years that still favor exposure to Vietnam stocks via this fund. Mutual Fund Screener Sectors | VCVOF U.S.: OTC Vinacapital Vietnam Opportunity Fund Ltd. Watch list Last Updated: Dec 29, 2022 9:30 a.m. EST Delayed quote $ 5.24 0.03 0.62% Advanced Charting $. RNS Number : 9450Y. VinaCapital Vietnam Opportunity Fund Ltd [VCVOF] Stock Price Today Quote & News Seeking Alpha. I think this attitude can be costly in bypassing a good opportunity here. VinaCapital Vietnam Opportunity Fund Limited (VOF.L) LSE - LSE Delayed Price. VinaCapital passionately believes in Vietnam. Copyright 2023 MarketWatch, Inc. All rights reserved. VinaCapital Vietnam Opportunity Ord $0.01 Sector: IT Country Specialist View Factsheets Add to Basket Detailed Info Breakdown Group News Fund Objective Component failed to load Reload. VinaCapital Vietnam Opportunity Fund Ltd (VOF) Category Other Allocation Deal Morningstar rating Sell 445.50p Buy 449.50p Change -7.50p (-1.66%) Discount/Premium -12.72% Estimated NAV 519.00p Prices updated at 20 Dec 2022, 17:49 GMT Prices minimum 15 mins delay Prices in GBX Investment objective The Board takes a close interest in ESG issues and sets the overall strategy. [4], As of December 31, 2021, VOF's net asset value was $1,404.3 million, with a market capitalization of $1,156.9 million. The most active stock market forums in the UK. In fact, the data since then suggests this is even more compelling. The AIC Code is available on the AIC website (www.theaic.co.uk). About Us Investment Solutions Offshore Funds VinaCapital Vietnam Opportunity Fund (VOF) Forum One - VinaCapital Vietnam Fund (VVF) VinaCapital Vietnam Access Fund Limited (VAF) Vinacapital Vietnam Oppo. [2] The Chairman is Huw Evans. The Management Engagement Committee, the Remuneration Committee and the Nomination Committee each meet at least once a year. VinaCapital Vietnam Opportunity Fund Limited (the "Company" or "VOF") LEI Number: 2138007UD8FBBVAX9469 Transaction in Own Shares - 22 September 2020 On 22 September 2020 the Company repurchased 100,000 of Ordinary Shares of USD0.01 each in the capital of the Company designated as US Dollar shares (the "USD Shares") at a price of GBP 3.23 per share. I believe this will result in more investors searching offshore. Such anecdotal stories can be read here. VinaCapital Vietnam Opportunity Fund (VOF) is a closed-end investment company that seeks to achieve medium- to long-term capital appreciation through investment in assets in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in, or derived from, Vietnam. This is linked to some of the geopolitical issues in 2022, not to mention pandemic-related supply disruptions. 14/09/2020 16:40. VinaCapital Vietnam Opportunity Fund (VOF), Forum One VinaCapital Vietnam Fund (VVF), VinaCapital Vietnam Access Fund Limited (VAF), VinaCapital Equity Special Access Fund (VINACAPITAL-VESAF), VinaCapital Equity Opportunity Fund (VINACAPITAL-VEOF), VinaCapital Insights Balanced Fund (VINACAPITAL-VIBF), VinaCapital Enhanced Fixed Income Fund (VINACAPITAL-VFF), VinaCapital Liquidity Bond Fund (VINACAPITAL-VLBF). To comply with the UK Listing Regime, the Company must comply with the requirements of the UK Corporate Governance Code issued in July 2018 (the UK Code). The Company may also distribute capital by means of share buybacks when the Board believes that it is in the best interests of shareholders to do so. Note in the month since the market fell another 10%, so the multiple now has likely gotten cheaper. Intraday Data provided by FACTSET and subject to terms of use. VinaCapital Ventures Takes Stake in M3TA Inc. To achieve medium to long-term returns through investment either in Vietnam or in companies with a substantial majority of their assets, operations, revenues or income in or derived from Vietnam. VINACAPITAL VIETNAM OPPORTUNITY FUND LIMITED PURPOSE This document provides you with key information about this investment product. We have seen substantial declines in U.S. stocks in 2022, and that particular complacent long trade is failing. VinaCapital Vietnam Opportunity Fund is a large British closed-end investment trust fund trading on the London Stock Exchange 's Main Market and is dedicated to investments in capital markets, private equity, undervalued assets, privatised assets, property and private placements in Vietnam. We use necessary cookies to make our site work. Investor type Micro VC. Add To Watchlist. 2. In terms of food price inflation, the fact that Vietnam is a significant food net exporter holds it in good stead. Food represents a relatively high component of their CPI basked compared to developed countries. I am still personally largely sticking with VCVOF as it is a bit nimbler in terms of size vs. VTMEF. In fact, from a geopolitical point of view, Vietnam refreshingly seems to be playing things low key and neutral. Vietnam. . The company is headquartered in London, England, United Kingdom. All of the Company's investments will be in Vietnam or in companies with at least 75% of their assets, operations, revenues or . Toby Shute. #mergersandacquistions The discount to NAV for the VCVOF CEF remains wide despite the advantages compared to Vietnam ETFs. VinaCapital Vietnam Opportunity Fund (VOF) Monthly report November 2022 "Every area of trouble gives out a ray of hope; and the one unchangeable certainty is that nothing is certain or unchangeable." - John F. Kennedy There appears to be a ray of hope in sight that the worries that have weighed on Vietnam's market sentiment in recent months Opt for cheap over. The Management Engagement Committee comprises all independent Directors and is chaired by Ms Matthews. For full VOF dividend history see VinaCapital Vietnam Opportunity Fund dividend history page. Launched in 2003, VOF provides investors with access to the Vietnamese market across a range of industry sectors and asset classes, including but not limited to listed and unlisted equity*, private. Create a list of the investments you want to track. Heres why. Founded in 2003, our team of managing directors. In 2022, cash reserves at VinaCapital Vietnam Opportunity Fund Ltd fell by 60.60m. Vietnam's relatively young and cheap labor force in this area is a competitive advantage that it still boasts today. The performance of services outside of external audit must be specific and approved by the Audit and Valuation Committee Chairman. While Vietnam stocks have largely mirrored the falls seen on Wall Street this year, there are also local factors at play. From a local point of view the country's people seem to have a relatively high degree of faith in the political leadership. L.A. County to pay $20 million to buy back Black familys seized beachfront land, Videogame workers form Microsofts first U.S. labor union. [3] Andy Ho is the Managing Director. The Company is classified as a registered closed-ended Collective Investment Scheme under the Protection of Investors (Bailiwick . Despite the pandemic, Vietnam's FDI flows are only going through more of a pause rather than any slump over the last couple of years. Below is the performance table from their recent June 30th factsheet: VNM VanEck Vietnam ETF factsheet June 30 2022. Bull points The above chart also shows that, when compared with other markets in the Southeast Asia region, Vietnam stands out. Vinacapital Vietnam Opportnty Fd Ltd (VCVOF). As management of the portfolio is delegated to the Investment Manager, the practical implementation of ESG policy rests with the Investment Manager. VinaCapital Vietnam Opportunity Fund Ltd (VOF) USD0.01 Sell: 445.00p Buy: 446.00p 2.00p (0.45%) FTSE 250: 0.76% Market closed | Prices as at close on 30 December 2022 | Turn off streaming prices. The performance fee has now come down from originally 20% to 12.5% of outperformance, based off a hurdle rate of a nominal 8% per annum return. Rather, they should welcome them as having provided a healthy correction in the market to now add exposure. Full time investor for a living, based in Australia with a keen interest in Listed Investment Companies (LICs) and Closed End Funds (CEFs). VinaCapital Vietnam Opportunity Fund Limited is a Guernsey-based closed-end investment company. Search. At the time, Vietnam stocks had corrected some 25%, so investors buying the dip back then would have achieved quite good returns by now. 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. My investment style might be best described as deep value, contrarian, special situations and hunting for targets for activist investors. U.S. stocks have felt the pain from the Fed needing to raise rates quickly, and the negative sentiment has spread to Vietnam stocks. Vietnams stock market has suffered a substantial decline in the first half of 2022, for reasons not to be too concerned with. It also appears cheap when one considers Vietnam has been one of the globe's top-performing economies in terms of GDP over the last couple of decades. Vietnam will not escape the pressure of rising inflation itself. That might explain why this ETF allows itself to hold companies that trade on stock exchanges like Japan, South Korea, and Taiwan. VOF invests growth equity in privately negotiated opportunities across listed, private equity and assets. The Nomination Committee comprises all independent Directors and is chaired by Mr Evans. In fact, over nearly all time periods returns are in the red, even over as long as 10 years plus. All rights reserved. Over the last three years it shows clearly negative returns. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Annual Report and Financial Statements for the year ended 30 June 2022 . Diversifying one's options for global manufacturing bases is seen as even more attractive now since the pandemic and what we have witnessed with China. This was illustrated when complying with directions made during the pandemic. VINACAPITAL VIETNAM OPPORTUNITY FUND LIMITED . Something went wrong while loading Watchlist. About Us Investment Solutions Offshore Funds VinaCapital Vietnam Opportunity Fund (VOF) Forum One - VinaCapital Vietnam Fund (VVF) VinaCapital Vietnam Access Fund Limited (VAF) Onshore Funds Overall, quite an interesting assessment of M&A both during the tail-end of 2022 and projecting over the coming first few months of 2023. VinaCapital Vietnam Opportunity Fund (LSE:VOF) is a large British investment trust dedicated to investments in capital markets, private equity, undervalued assets, privatised assets, property and private placements. See the company profile for VinaCapital Vietnam Opportunity Fund Limited (VOF.L) including business summary, industry/sector information, number of employees, business summary, corporate . Below is the holdings snapshot as of May 31st this year. The Committees responsibilities include: setting the policy for the remuneration of the Companys Chairman, the Audit and Valuation Committee Chairman and the Directors, and reviewing the ongoing appropriateness and relevance of the remuneration policy; determining the individual remuneration policy of each non-executive Director; agreeing the policy for authorising Directors expenses claims; and the selection and appointment of any remuneration consultants who advise the Committee. Having said that, it is a sign that Vietnam is taking such matters seriously. VinaCapital Insights The Evolution of Vietnams Stock Market. The previous VinaCapital Vietnam Opportunity Fund Limited dividend was 6.7081p and it went ex 2 months ago and it was paid 27 days ago . The Committee approves the fair value of investments used to prepare the financial statements. U.S. coach Gregg Berhalter says he was targeted in blackmail attempt at World Cup. I am not receiving compensation for it (other than from Seeking Alpha). We are long-term, active investors who take significant minority stakes in leading private companies in Vietnam. VinaCapital, as a firm, has long recognised that ESG issues can have a significant impact on value creation across the investment cycle. Here is MarketWatchs most widely read Moneyist column of 2022, Why this country could emerge as a surprise winner from U.S.-China trade battle. Here's what's hot in the #Vietnamese #digital space in 2023 and beyond: #Vietnam has started a national transition towards Cookie Notice (). According to studies completed in February this year, Vietnam ranks high in terms of trust in the government. VinaCapital Vietnam Opportunity Fund Ltd is a company that operates in the Financial Services industry. VinaCapital takes 'significant' minority stake in Hanoi hospital. Please disable your ad-blocker and refresh. Investors should not be overly concerned with the above-mentioned Vietnam-specific factors for stocks falling. As Vietnams only multi-disciplinary asset manager, we offer local and international investors a range of opportunities to share in the countrys growth. Disclosure: I/we have a beneficial long position in the shares of VCVOF either through stock ownership, options, or other derivatives. For the best MarketWatch.com experience, please update to a modern browser. . VinaCapital Insights Vietnams Stock Market Bounced Back And More Gains Ahead. VinaCapital Vietnam Opportunity fund (VOF) is one of the longest-established and largest Vietnam-specialist investment companies listed in the UK. I would point out that even if we take into account that Vietnam stocks slumped badly in June, their performance over the last three years is still quite positive. I have no business relationship with any company whose stock is mentioned in this article. A future positive catalyst might also be global indices providers deciding to upgrade Vietnam from frontier to emerging market status. In 2003, the firm launched the VinaCapital Vietnam Opportunity Fund, a closed-end fund now trading on the London Stock Exchange's Main Market. I won't repeat all the background here from my 2019 article, but note that the ongoing fees are expected to be 1.6% a year. Some were certainly burnt by searching for value in Russian stocks. The VinaCapital Vietnam Opportunity Fund is an excellent means for investors to access Vietnam's future upside. It has a market capitalisation of 727 m, with approximately 162 m shares. Now, a similarly attractive entry point into the stock is opening up thanks to large declines in Vietnam stocks in 2022. 1. Brace yourself: Your tax refund could shrink in 2023. It might be worth checking out another closed end fund in Vietnam Enterprise Investments Ltd. (OTC:VTMEF). c thnh lp bi Tp on VinaCapital t nm 2012 v hot ng di tn Cng ty C phn Qun l Qu VinaWealth cho n trc thng 07 nm 2017 . (Sharecast News) - VinaCapital Vietnam Opportunity Fund has invested in Thu Cuc International General . Another thing I have heard is that the geopolitical developments in 2022 have made global investors nervous about touching emerging/frontier markets. This is what the indices providers want to see as they ponder whether to upgrade Vietnam from frontier to emerging stock market status. I shall now list such factors that have contributed to the falls. Each individual valuation is reviewed in detail and the recommendations of the independent valuers may be accepted or modified. Vinacapital Vietnam Opportunity Fund LD (VOF) ORD $0.01. Digit all! Cng ty Qun l Qu VinaCapital ("VCFM") l mt trong nhng cng ty u ngnh trong lnh vc u t ti chnh Vit Nam. Based on forward estimates, the below table (created on June 9th), shows that Vietnam stocks trade on a forward P/E of circa 11.5x. Find the latest VinaCapital Vietnam Opportunity Fund Limited (VCVOF) stock quote, history, news and other vital information to help you with your stock trading and investing. Note how in December 2020 the surge in retail trading caused the Ho Chi Minh stock exchange to halt trading. Sell. Spotlight on Alternatives Platform Q2 2022, Jih Sun Vietnam Opportunity Fund Launches With VinaCapital As Investment Advisor, Spotlight on Alternatives Platform Q1 2022, VinaCapitals Open-End Funds Led The Market With Outstanding 2021 Returns. They account for far more of the daily volume traded compared with the pre-pandemic time period, and this panic selling is contributing to the declines in the Vietnam stock market. Let's keep that in mind when taking a look at a very popular Vietnam ETF, such as the VanEck Vietnam ETF (VNM). Vietnam has many attractive fundamentals to be considered. Vinacapital Vietnam Opportunity Fund Ld: LSE:VOF: London: Ordinary Share: GG00BYXVT888: ORD $0.01 Price Change % Change Share Price Bid Price Offer Price High Price Low Price . Founded in 2003, their team of managing directors bring extensive international finance and investment experience to the firm. In my previous article, I focused more on the longer-term history of the fund and macro drivers in Vietnam. NAV total returns have been particularly strong over the last three years, and are ahead of VN Index and peer returns over the last 12 months, when markets have been volatile. Brokers' EPS growth over 2022 and 2023 is also very strong. The firm's flagship closed-ended VinaCapital Vietnam Opportunity Fund Limited trades on the Main Market of the London Stock Exchange. Please. We invest in the country, its workforce, its energy, and its future. The Company is a Guernsey domiciled closed-ended investment company. The fund seeks to invest 80 percent of its portfolio in private equity and 20 percent in equitization projects will be re-allocated to listed shares. VINACAPITAL VIETNAM OPPORTUNITY FUND LIMITED Annual Report and Financial Statements for the year ended 30 June 2016 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30. Compared to the U.S., the Vietnam stock market is less efficient and there is less competition with active fund managers setting up shop to beat the market. Now let's turn back to VCVOF's history over the last decade. Despite the above-mentioned key risks, a good buying opportunity has likely presented itself for Vietnam stocks at the halfway mark of 2022. Overview Unlock datapoints. 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