TIDMVOF

VinaCapital Vietnam Opp. Fund Ltd

05 December 2018

London, UK, 5 December 2018

Edison issues review on VinaCapital Vietnam Opportunity Fund (VOF)

VinaCapital Vietnam Opportunity Fund (VOF) is a large, well-established Vietnam specialist investment fund, differentiated by its focus on private deal sourcing. 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. VOF's share price discount to NAV has narrowed, but it remains wider than the peer group average. The board has taken steps to address the discount, moving VOF's listing to the LSE's Main Market in 2016, starting a dividend programme in 2017, and agreeing a reduced management and incentive fee structure in 2018. The board recommends that shareholders vote against discontinuation at the forthcoming AGM, highlighting the promising outlook suggested by market fundamentals, as well as the manager's strong track record.

After briefly widening to 25.6% in October 2018, VOF's share price discount to NAV has narrowed to 13.7%, which is lower than its 18.9%, 20.6% and 21.5% averages over one, three and five years, respectively. VOF started paying regular dividends in 2017, and its 2.4% yield is the highest in the peer group.

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December 05, 2018 05:21 ET (10:21 GMT)

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