Vietnam Opportunity fund takes hopeful note in interim results

Down 14.5%

VinaCapital’s Vietnam Opportunity fund argued the country has large potential to provide strong returns over the next year, despite having an incredibly volatile market in 2022, it said in its interim results today (24 March).

The trust's net asset value per share fell by 14.5% in the last six months of 2022, compared to the Vietnam Ho Chi Minh Stock index fall of 16.3%. Including dividends, the trust's total result for the six months was -13.4%. Vietnam suffered one of its worst years of market performance in history last year, with its stock market ending the year down by 34.1% as slowing global growth and inflation put pressure on the country. The trust attributed its overperformance of the index to a combination of stock selection in the quoted equity portfolio and "relatively modest declines" in the va...