Vinacapital Vietnam Oppo... Share Discussion Threads

[zcaprd7] 10/11/2017 12:35

Aha, just spotted the IPO of Vincom, the biggest in Vietnam's history. Benchmark index is at a 9 year high, and the rules governing IPOs are becoming less bureaucratic (money week, 10 Nov page 7)

[zcaprd7] 10/11/2017 11:47

Still grinding higher...

[walter walcarpets] 06/11/2017 13:59

hmmm.....this is always going to be discounted to NAV - it's Vietnam after all. If the marketeers can help narrow to 10% say, it may be worthwhile but not convinced it's the right strategy.

[zcaprd7] 06/11/2017 11:38

Or fritter it away on marketing fees?

[killing_time] 28/10/2017 11:27

Interesting that in the report a while back they said they would pay a dividend twice a year, then less than 3 months after the first dividend they then pay a second dividend.
The rules on investment trusts is that " in order to maintain investment trust status the company can retain no more than 15% of its total income ".

So im guessing that they are bringing in a lot of money at the moment and need to pay it out before their end of financial year, if so depending on when the year ends we just might see a special dividend in the future. KT.

[zcaprd7] 27/10/2017 19:09

Indeed. Still a 20% discount to NAV...

[robsy2] 26/10/2017 11:57

The annual report reads really well. The message comes over loud and clear that these people know what they are doing. Very happy indeed with this trust .
R2

[zcaprd7] 25/10/2017 16:13

A lot of volume today, highest for a year... Nice dividend as well.

[zcaprd7] 18/10/2017 13:02

Got it working on my laptop. Very interesting, and plenty of stuff in the pipeline, just in privatisations...

[walter walcarpets] 15/10/2017 07:46

zcap: no problem for me, just pasted link into address bar as a pdf. Well worth a read - excellent report!

[zcaprd7] 14/10/2017 22:01

Anyone manage to get that new report URL to work?

[walter walcarpets] 09/10/2017 21:07

Yep, good to be diversified. This and JMC doing very nicely.

[zcaprd7] 09/10/2017 20:34

Dividend and new highs. Yummy...

[killing_time] 02/10/2017 21:03

Received the dividend today, a few days late.

[darly mcfarly] 02/10/2017 11:36

Divi Payable 27th?

[killing_time] 24/8/2017 10:31

Good news today.

VOF has gone ex-div today on its first interim dividend of 4.8 us cents, which = about 3.7250p

VOF is now going to pay dividends twice a year, all the news is in the RNS above.

[walter walcarpets] 04/8/2017 08:42

solid investment in infrastructure.

VOF becomes a major shareholder in Tasco, a leading toll road operator and real
estate developer in Vietnam

Ho Chi Minh City, 4 August 2017 -VinaCapital Vietnam Opportunity Fund (VOF),
(LSE: VOF), the flagship fund of VinaCapital, announces that it has become a
significant investor in Tasco JSC (HNX: HUT), a leading toll road operator and
real estate development company in northern Vietnam, via a private placement.

Tasco's private placement raised USD23 million by issuing 21% of
post-investment common shares to several investors including company
management, with the largest acquirer being VOF, which invested USD11 million.
Tasco will use proceeds of the private placement to help finance future
infrastructure and real estate projects.

Andy Ho, Chief Investment Officer of VinaCapital and Managing Director of VOF,
said, "The private placement gave us the opportunity to acquire a meaningful
stake at an attractive price in a company that has a long track record of
results and a strong pipeline. This investment is consistent with our
philosophy of investing in companies that are focused on the growth of the
local economy, and infrastructure improvement is a critical element in
Vietnam's ongoing development."

[zcaprd7] 16/6/2017 16:48

Even nicer volume on a new high...

[zcaprd7] 08/6/2017 18:03

Nice share buyback...

[walter walcarpets] 12/4/2017 07:41

Very well managed trust.


April 10, 2017


VinaCapital Vietnam Opportunity Fund Limited ("the Company" or "VOF")

Divestment of stake in the Dai Phuc Lotus direct real estate project

Ho Chi Minh City - VinaCapital Vietnam Opportunity Fund Limited, a London Stock
Exchange Main Market traded investment company established to target key growth
segments in Vietnam, announces that it has divested its entire stake in the Dai
Phuc Lotus direct real estate project located in the Dong Nai province near Ho
Chi Minh City, Vietnam. The site is a future residential - township development
with a total site area of 198.5ha and was acquired with VinaLand Limited
("VNL") in 2007. The project is currently undergoing its first phase in
construction and sales.

VOF, alongside VNL, disposed of its entire stake in the Dai Phuoc Lotus project
to CFLD companies at a total valuation of 20.4% above the 31 March 2017
unaudited net asset value. This transaction will result in net cash proceeds of
USD16.5 million to the Company. The proceeds have been fully received at the
time of this announcement. As a result of the sale, VOF's holding in direct
real estate development projects has been reduced to 5.2% of total NAV as of 31
March 2017.

VOF Managing Director Andy Ho commented, "With the closure of this divestment,
VOF's exposure to direct real estate falls to approximately 5% of total NAV.
This is a significant milestone in the Company's ongoing strategy to reduce
direct real estate holdings, and enables VOF to remain opportunistic in areas
of the market where we see significant upside, namely privately negotiated
deals and OTC investments."

[euclid5] 11/4/2017 21:54

a nice 70,000 buy today at 293p value of £205,000 - there's confidence for you

[zcaprd7] 04/4/2017 14:36

Everything seems to be going well...

[wexboy] 30/1/2017 03:22

VinaCapital Vietnam Opportunity Fund (VOF:LN) (5.1% of current portfolio):

Share Price: GBP 271p

Market Cap: GBP 560 Million (USD 705 Million)

Everything aligned for VOF in 2016 to deliver a blistering +70% return (in sterling terms): Its substantial capital markets (i.e. non/un-listed) portfolio allocation was a primary driver of a return that was nearly double that of the VN-Index, its NAV discount closed significantly, plus it enjoyed a dramatic boost from sterling’s post-Brexit depreciation (VOF shares are now listed in GBP). The portfolio out-performance is particularly gratifying, as I’d previously highlighted VOF’s more diversified portfolio as a better long-term bet (vs. its peer closed-end funds/ETFs, which focus on listed equities), in what’s still obviously a frontier market. [See blog comments here, for a comparison with the VanEck Vectors Vietnam ETF (VNM:US)…which, extraordinarily, managed to lose money for its shareholders last year!?]

The underlying VN-Index return is also a reminder there has been little sign of over-heating in the market, which leads me to believe there’s plenty more gas in the tank here. 2017 GDP growth’s expected to surpass the current 6.2% rate, retail sales are humming along at +10.2% yoy, inflation remains sub-5%, the USD/VND remains stable, the banks & the property market appear to be heading in the right direction again, and 10-15% EPS growth is expected…yet Vietnam continues to trade at a 20-30% P/E discount to regional averages. As for VOF itself, it trades on a 0.81 Price/Book multiple, despite an aggressive & ongoing share buyback programme – I see plenty of gains ahead in terms of NAV growth & discount compression, as Vietnam continues to leverage & benefit from its labour/cost export advantage, and (just as importantly) its burgeoning domestic consumer economy.

For this & other top picks, check/Google my latest 'Top Trumps For 2017...' post on the Wexboy investment blog.

[zcaprd7] 28/1/2017 01:09

Chunky share buy back there...

[zcaprd7] 30/12/2016 16:16

£3.40 a share NAV, seems to be moving in the right direction...