The London-listed Vietnam opportunity fund, managed by Vietnam-based investment banking and fund management group VinaCapital Investment Management, is held within SPPM’s balanced managed fund. It focuses on the main growth sectors of the Vietnamese economy including financial services, retail, consumer goods, tourism, property, infrastructure, and technology.
SPPM says the Vietnamese economy is in the early stages of development and its Government is working hard to achieve an open economy since Vietnam was granted entry to the World Trade Organisation. The Government is keen to attract foreign investment as it hopes to achieve similar growth in China.
In the UK, part of the portfolio, SPPM has sold out of Blackrock ML absolute alpha, replacing it with Ian Lancaster’s Norwich Union income opportunities fund.
SPPM investment director Tony Yousefian says: “If we had the same funds as other managers, it would do away with one leg of our competitiveness. Some of our holdings are common to other funds but we try to identify funds that are not too big in size.
“The Vietnam opportunities fund is the only way we have been able to gain access to the region. Its stockmarket has been incredible but there has been a reasonable correction.”