Vietnam Oppurtunity fund...trading on AIM in US Dollars. From Annual report in Dec 2004

"The economy has continued its impressive run of stable high growth, second only to that of China. This growth is now supported by three legs - most importantly the domestic private sector, but now also increasingly exports and FDI. The domestic private sector expanded 21.8 percent for the first half of 2004, exports grew by 16.9 percent and FDI grew 11.4 percent and is now higher than China as a percentage of GDP. It is encouraging that Vietnam is starting to be seen as a serious investment destination.

Government reforms have continued their slow but steady trajectory, most notably in pushing forward with the privatization effort. The privatization of Vinamilk and Bao Minh insurance heralded the beginning of the final phase of
privatization, with the largest companies in the key sectors being sold down.

In terms of investment opportunities the Company has not been opportunity
constrained. It is encouraging to see Vietnamese companies performing well while valuations are among the lowest in the region and dividend yields among the highest. In fact, the average ROEs of Vietnam's listed companies are almost four times those of average Chinese listed companies. Furthermore, the fledgling real estate market is showing signs of growth as mortgages allow the average citizen to now more easily buy their own homes"

IMHO Vietnam is one of the last South East Asian Tigers that has yet to roar! And when it does it could be huge. Obviously this is a long term investment and not for the risk-averse...but wouldnt it have been nice to get into China when it was just beginning to stir? Well in my opinion this is now possible with Vietnam, and VOF is a great way of having direct access to this very interesting and expanding market! DYOR

Any thoughts/opinions?

a slow safe burner ready to ingnite !! imho

off she goes on banking potential the new growth interest.