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VietNam Holding Ltd - closed-end fund aiming for long-term capital growth from investment in high-growth companies in Vietnam - The fund’s investment manager, Dynam Capital Ltd, says Vietnam’s equity markets have ‘recovered strongly’ since US President Donald Trump announced his 90-pause on the highest trade tariffs he had announced at the start of April. These would have hit imports in the US from Vietnam with 46% tariffs, some of the most severe for any country. Shares now are trading at ‘attractive valuations not seen in two decades’. VietNam Holding’s net asset value is 390.1 pence per share on March 31, prior to Trump’s ’liberation day’ announcement on April 2. This left NAV down 2.7% on the month and 3.6% so far in 2025, compared to negative 0.4% and positive 1.4%, respectively, for the Vietnam all-share index. The fund’s managers note Vietnam is approaching its own Liberation Day on Wednesday next week. This commemorates the reunification of the North and South and symbolises the country’s ‘resilience, independence, and transformation into the emerging economic force it is today,’ they say. To protect against the immediate tariff risks, VietNam Holding notes it already was underweight export-related sectors in Vietnam before April and has since rebalanced its portfolio, increasing cash and its exposure to retail, IT and bank stocks and away from logistics stocks. Current stock price: 305.00 pence 12-month change: down 16% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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