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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vinacapital Vietnam Opportunity Fund Ld | LSE:VOF | London | Ordinary Share | GG00BYXVT888 | ORD $0.01 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -1.00 | -0.22% | 444.50 | 342,061 | 16:35:18 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 443.00 | 444.50 | 446.50 | 442.50 | 444.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Investment Trust | USD 77.12M | USD 72.91M | USD 0.4769 | 9.30 | 681.13M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:36:11 | O | 10,000 | 443.685 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 04/3/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Daily Net Asset Value |
| 04/3/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Transaction in Own Shares |
| 03/3/2025 | 12:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Daily Net Asset Value |
| 03/3/2025 | 07:10 | UK RNS | VinaCapital Vietnam Opportunity Fd. Transaction in Own Shares |
| 28/2/2025 | 17:02 | UK RNS | VinaCapital Vietnam Opportunity Fd. Holding(s) in Company |
| 28/2/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Daily Net Asset Value |
| 28/2/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Transaction in Own Shares |
| 27/2/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Transaction in Own Shares |
| 27/2/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Daily Net Asset Value |
| 26/2/2025 | 07:00 | UK RNS | VinaCapital Vietnam Opportunity Fd. Daily Net Asset Value |
Vinacapital Vietnam Oppo... (VOF) Share Charts1 Year Vinacapital Vietnam Oppo... Chart |
|
1 Month Vinacapital Vietnam Oppo... Chart |
Intraday Vinacapital Vietnam Oppo... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 04/3/2025 | 09:06 | Vietnam Opportunity Fund | 2,437 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2025-03-04 16:36:13 | 443.69 | 10,000 | 44,368.50 | O |
| 2025-03-04 16:36:01 | 443.69 | 10,000 | 44,368.50 | O |
| 2025-03-04 16:35:18 | 444.50 | 86,568 | 384,794.76 | UT |
| 2025-03-04 16:30:01 | 443.00 | 385 | 1,705.55 | O |
| 2025-03-04 16:29:40 | 443.50 | 365 | 1,618.78 | AT |
| Top Posts |
|---|
Posted at 04/3/2025 08:20 by Vinacapital Vietnam Oppo... Daily Update Vinacapital Vietnam Opportunity Fund Ld is listed in the Real Estate Investment Trust sector of the London Stock Exchange with ticker VOF. The last closing price for Vinacapital Vietnam Oppo... was 445.50p.Vinacapital Vietnam Oppo... currently has 152,890,240 shares in issue. The market capitalisation of Vinacapital Vietnam Oppo... is £678,068,214. Vinacapital Vietnam Oppo... has a price to earnings ratio (PE ratio) of 9.30. This morning VOF shares opened at 444p |
Posted at 24/2/2025 12:38 by aleman This year, our Research team forecasts 18-21% core earnings growth for the market, with Banks expected to grow 17%, Consumer expected to grow 22%, and the Materials sector at 21% growth. Importantly, the long-awaited recovery of real estate is beginning to become more evident, and the sector is expected to grow by at least 14%. This potentially wider distribution of earnings growth supports our view that a broad-based economic recovery, driven by stable credit growth, public spending on infrastructure projects, and a clearer legal and approval process for real estate projects, will stimulate consumer demand.These core sectors are reflected in our top sector allocations in the portfolio, with Banks at 20%, Real Estate at 20% and the Consumer sector (staples and discretionary) accounting for 16% of portfolio weight. We continue to evaluate private and public equity opportuni-ties across these sectors and look forward to updating investors over the coming months as we look to complete several new investments. They discuss tariff risk as if it has no benefit. While blanket steel tariffs are likely to affect US sales, much steel output could be diverted to the strengthening contruction market at home and/or in near Asia. VAT equalisation based tariffs could actually increase US demand from Vietnam as higher VAT nations see tariff increases whilst Vietnam tariffs increases look likely to be marginal overall due to its overall lower VAT rates. If 20% core earnings growth were to be repeated in 2026 and 2027, the 2026 market P/E would be around 8.7 and 2027 around 7.3, versus a longer term average of 15-16. I think the main indices could double in the next 18-24 months as 2027 earnings forecasts come more into play, and still be on a close to average rating. If VOF's discount also returned to a more normal level in 18-24 months (25% to 10%), then VOF's share price would rise about 140% to around 1080p. This is how earnings growth would interact with discounted stockmarket and VOF ratings just to get back to normal ratings. I think there is huge potential here over 2 years if the government hits its growth targets, and it seems very keen to do so. And that's without considering VOF's property and unlisteds bias, which could outperfrom in an upswing, after underperforming in the property recession of the last couple of years. |
Posted at 12/2/2025 10:42 by 31337 c0d3r Perhaps VOF (and VEIL) need a redemption facility similar to what VNH introduced to eliminate their discount?"The introduction of a redemption opportunity at NAV less associated costs (the first of which is on 30 September this year) appears to have been behind a significant narrowing of VNH’s discount so that a 25.7% NAV return translated into a 48.2% share price return over the 12 month period ended 31 May 2024." |
Posted at 22/12/2024 15:35 by kenmitch I’ve held VOF and VNH for most of this century. VNH is up 27% this year, and 60% since the start of 2023. VOF has disappointed with a flat 2 years, but that’s partly because of the wide discount to NAV. If/when that discount narrows there could be the double plus of a rising share price being given an extra boost via that narrowing discount. So if only wanting to hold one Vietnam Trust, there’s a strong case for VOF now. |
Posted at 25/11/2024 12:21 by kenmitch What is clear is the huge underperformance of VOF compared with VNH for a long time now. VOF is down about 14% from 503p on 26th Nov 2022 to 435p today. VNH is UP 30% from 336p to 402p.A key reason for the big difference is VNH goimg from a big discount to a slight premium recently while VOF as Aleman is pointing out is still at a wide discount. Even allowing fir that VNH performance has been superior but not by that much.This makes VOF the Vietnam choice for me now,but for my already holding both VOF and VNH and both are big successes in my portfolio. |
Posted at 24/11/2024 23:14 by 31337 c0d3r amt - well said. I've been fully invested in Vietnam for several years and appreciate reading your contrarian views.I don't understand why some posters take such offence. Do they think the share price is artificially held up, and fear it falling if the wrong words are spoken? The views posted on here will never change the share price destination. |
Posted at 09/9/2024 08:31 by kenmitch Interesting reply hpcg.What stands out is that comment that they were disappointed that their buybacks didn’t work in reducing the discount as long ago as 2015! So why are other Trusts still claiming surprise that their recent buybacks haven’t worked and in some cases have resulted in an even bigger discount! Also VOF spent $214million on buybacks and that large sum only saw a 37cents cumulative accretion to NAV. Haven’t checked but presumably that disappointment is a key reason they are now going for tender offers instead. That’s better for shareholders who get a cash benefit which they don’t with buybacks, but if done regularly it creates the problem outlined by Aleman. I think too many Trusts worry too much about discounts and instead of trying ways like tender offers and buybacks to try and fail to reduce the discount, they would do better to focus on using spare cash investing in their portfolios. Regardless of all this, I ‘ve held both VOF and VNH for most of this Century except for selling temporarily (too late!) in the covid crash. They’ve both proved to be superb investments, albeit with VNH way outperforming VOF. And with promotion to full Emerging Market status from current frontier market coming in time that could well give the share prices a good boost along with, in the case of VOF, of a big narrowing of the discount. Both VOF and VNH could even go to premiums then with imo VOF having the edge because there’s a wider discount to correct. |
Posted at 08/9/2024 15:31 by hpcg kenmitch - in which case the discount to NAV for a trust and by summation many trusts is that investors are not interested in buying them. In which case why should it continue on for years? Why should trusts continue as an investment vehicle at all if people don't want to use them? The NAV per share in VOF has performed much better than VEIL. It has been growing its NAV in absolute terms this year, though the big moves are highly correlated with the market it operates in. It continues to outperform the index. One thing it isn't really doing is getting smaller. It can grow its absolute shareholder equity and reduce its share count at the same time. The company has been able to vastly decrease the share count whilst still growing its absolute size.RNS Monthly NAV "The Company announces that, for the month ended 31 October 2018, its unaudited, estimated NAV was USD 989.28 million or USD 5.26 per share. The Sterling equivalent as at that same date was GBP 774.27 million or GBP 4.11 per share." Market update and NAV RNS "VinaCapital Vietnam Opportunity Fund Ltd ('VOF', the 'Company') announces that on 23 May 2014, pursuant to the share buyback authority granted to the Company's Board of Directors on 25 October 2011, Visaka Holdings Limited, a wholly-owned subsidiary of the Company, purchased 410,875 Ordinary Shares of USD0.01 each at an average price of USD2.3136 per share. Following this transaction, VOF has spent USD163.4 million overall repurchasing 85,150,086 shares which are held as treasury shares and have reduced the total voting rights in the Company to 239,460,173. The total number of shares acquired since November 2011 represents 26.23 percent of the Company's 324,610,259 ordinary shares in issue. As a result of the Company's share buyback programme, VOF has recorded USD0.33 in cumulative accretion, equating to an 11.1 percent benefit to VOF's net asset value per share." Passage from the 2015 annual report: "Every statement I have written has contained an expression of disappointment that the discount to NAV remains too high. This year’s is no exception. While we have continued to buy shares back and the Investment Manager has taken an active approach to spreading the ‘VOF message’, the impact has been less than your Board would like. This year, we bought back USD47.3 million of stock, adding 5 cents to NAV per share and, since the inception of the buyback programme in November 2011, the total value of shares bought back amounts to USD214 million with a cumulative accretion to NAV per share of 37 cents." |
Posted at 02/9/2024 10:01 by aleman Henderson Far East Income IT has been selling down its VOF holding over the last 18 months or so to to the tune of a few £million or more (not enough detail in their data to be clear). I doubt it's a major influence on the VOF share price but it won't have helped. They have actually been building a large exposure to a frothy Indian market at the same time (P/E 24 to 29, depending on source, and earnings growth slowing). I'm not sure that will turn out to be wise on their part in time. Prospects here look far better to me. |
Posted at 22/3/2024 09:34 by aleman Since the last stockmarket high two years ago, GDP has grown about 10% or so and it seems to have picked up even more recently. The VN index reached a high of close to 1500, fell back to 1000, and is now just through a resistance point at 1280. Basically, the tailwind of very strong economic news seems to strongly suggest there will be a new assault on the 1500 high, barring any black swans.Meanwhile, the VOF share price looks like its not read any economic news for 6 months and NAV is at an exceptional discount of 23%+. When will it decide to have a catch-up and return to an average discount of around 15% - or an even smaller discount typical of a bull market? The share price looks to already have probably broken it's downtrend. Maybe it just needs to be a bit clearer and then the discount will revert to something more normal. . The stockmarket closed up again today, at +0.4%. The £ is down v $ by almost 0.5% and the $ looks to be marginally down versus the VND since the calculation for yesterday's NAV. With the shares at 461p one might guess the discount is closer to 24% with this information. It just feels way too high when the market has risen over 20% in the last 5 months. |
Posted at 19/2/2024 12:24 by kenmitch VOF has been a fabulous investment. I’ve held it almost from the start except for temporarily selling during the 2008 banking crisis and the 2020 covid crash. Have a look at the long term chart. It has 9 bagged from the lows.The recent underperformance looks a great buy opportunity as VOF has way underperformed VNH and VEIL this year for no obvious reason. I posted why VOF looks a very tempting buy now on subscription site Stockopedia and to save time have copied part of it below. There is one error in it which a poster there pointed out. The discount has been even bigger than the current 24% in the distant past, when the attractions of investing in Vietnam were even less recognised by UK investors. When eventually UK investors DO wake up to the Vietnam opportunity (perhaps not until Vietnam gets official Emerging Markets status) it’s likely that VNH, VOF and VEIL will do very well and the present discounts could well go to premiums to put an additional rocket under their share prices. BUT right now it’s VOF that looks the one to go for. Here’s that extract arguing why:- “Why is VinaCapital Vietnam Opportunity Fund (LON:VOF) THE stunning buy now? 1. The main Vietnam index is up 11% so far this year. VinaCapital Vietnam Opportunity Fund (LON:VOF) NAV is also UP 29p since January 2nd from £5.55 then to £5.84p today. BUT despite that NAV gain the share price is DOWN from £4.55 on Jan 2nd to £4.42. AND the discount to NAV is now exceptionally wide at 24%!! So the share price fall this year is NOT because of poor performance. It’s mainly because the discount to NAV has widened even further. I can’t recall in years of holding VinaCapital Vietnam Opportunity Fund (LON:VOF) the discount to NAV being SO high! If VOF was an open ended fund investors would have to pay the full £5.84 NAV price. Instead they (you?) can buy it at a bargain discount price of “25% off” £4.42p. 2. In contrast the other 2 Vietnam Trust share prices have done much better this year and unlike VinaCapital Vietnam Opportunity Fund (LON:VOF) have gone UP since Jan 2nd. Vietnam Enterprise Investments (LON:VEIL) £5.87 now and up from £5.55 on Jan 2nd. NAV is up from £6.80 on Jan 2nd to £7.21 now. The discount is 18%. VietNam Holding (LON:VNH) £3.75p and well up from Jan 2nd £3.25p. NAV is £3.81p. The discount is now just 3% (much lower than normal) AND unlike the other 2 VNH looks fully valued for now. The share price gain since Jan 2nd is partly because the discount has narrowed so much. That’s is SHARP contrast to VinaCapital Vietnam Opportunity Fund (LON:VOF) where the share price fall is because the discount has widened to extreme levels. Hence VinaCapital Vietnam Opportunity Fund (LON:VOF) looking such a tempting buy now. Finally; it might not be too much longer before Vietnam becomes officially an Emerging Market. It’s presently categororised as a frontier market. That promotion if and when it comes could see Vietnam seeing much wider investment interest. AND the current discounts could go to premiums then. I.e there’s also a strong longer term case for investing in emerging Vietnam where more and more big Companies (like APPLE) are moving production to Vietnam, and that’s often from CHINA and TAIWAN. I hold both VinaCapital Vietnam Opportunity Fund (LON:VOF) and VietNam Holding (LON:VNH).” |
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