VinaCapital Vietnam Opportunity Fund's NAV Rises 9.1% in 2024

VinaCapital Vietnam Opportunity Fund (VOF) reported a sterling net asset value (NAV) increase of 9.1% for the year ending October 2024. This growth in total return (TR) terms falls behind the broader Vietnamese equity market, which grew by 14.1% according to the VN Index. The equity market in Vietnam gains momentum due to higher participation from local retail investors, spurred by low deposit rates and positive economic conditions, including a surge in exports.

Vietnam's GDP in 2024 is projected to grow at an accelerated pace, with corporate earnings expected to increase at a double-digit rate, based on LSEG Data & Analytics consensus. Despite these positive trends, VOF's shares are trading at a 25% discount to NAV, which is higher than their five-year average discount of 18%. Additionally, the fund offers a dividend yield of 2.5%.