VinaCapital Vietnam Opportunity Fund Limited AccumUSD · LSE:VOF
VinaCapital Vietnam Opportunity Fund Limited AccumUSD — VinaCapital Vietnam Opportunity Fund (VOF) — Investor Presentation (January 2025)
16 slides from VinaCapital Vietnam Opportunity Fund Limited AccumUSD's investor presentation, January 2025
Slide 1: Investor Update and Outlook 2025
| VinaCapital Investor Update and Outlook 2025 January 2025
Slide 2: Classified: Public
Classified: Public
Slide 3: Vietnam's Economy in 2025
y \d VinaCapital Vietnam’s Economy in 2025 =" 02° Export ] Domestic Driven » Driven Growth Growth More Investment Opportunities Classified: Public
Slide 4: Domestic Growth in 2025 - Our Views Becoming Consensus
y \d VinaCapital Domestic Growth in 2025 - Our Views Becoming Consensus —Real Estate Architects Overwhelmed with Work ——Consumers =) Confidence Picking Up, From: 50% in Jan-24, to 70% in Dec-24 Highly Visible Project Progress —Infrastructure Government G) Very Ambitious Targets for GDP & Structural
Slide 5: Vietnam To Benefit From Trump 2.0
y \d VinaCapital Vietnam To Benefit From Trump 2.0 Trade Flow Growth 2018-22* US Imports of Routers, etc. Vietnam-US China-Vietnam China-Malaysia Australia-China China-India TN Share of Imports (2018-23) China -35 Y pts Vietnam +18 %pts Taiwan +10 % pts Thailand +6 %pts *Sources: FT/Ruchir Sharma, H
Slide 6: A Roller Coaster Year For The VND Dong
y \d VinaCapital A Roller Coaster Year For The VND Dong H1: We Expect More VND Depreciation in 2025 1) Slowing VN Export Growth 2) Trump Tariff Concerns | Strong USD 3) Fading Fed Cut Expectations H2: Partial Recovery by Year-End 1) Accelerating VN GDP Growth 2) Fading Tariff Concerns Classified: Pu
Slide 7: VOF Performance
VOF Performance As at 31 December 2024
Slide 8: Assets Under Management, NAV Return, Share Price, Discount to NAV
$1.1BN +10.2% +3.1% -23.4% ASSETS UNDER NAV RETURN SHARE PRICE DISCOUNT TO NAV MANAGEMENT CY2024* RETURN CY2024* 31 DEC 2024 Classified: Public
Slide 9: VOF remains one of top performers on both short-term and long-term basis
y \/ VinaCapital VOF remains one of top performers on both short-term and long-term basis, across periods of volatility 1-year performance 3-year performance 5-year performance 16% 5% pe 100% x aa 82 s 52 Ee : a 14% 0% & g--------------------- 3 2 8 3 80% 2 ws ¥, 8 12% 5% 60% 10% 10% y 15% 40% 8% -2
Slide 10: Top holdings price increases
#4 holding #2 holding #1 holding #3 holding 7% NAV 13% NAV 14% NAV 12% NAV +91% +85% +29% +27% PRICE INCREASE PRICE INCREASE PRICE INCREASE PRICE INCREASE +3.8% WGT CONTR . +5.8% WGT CONTR . +3.1% WGT CONTR . +2.5% WGT CONTR . Classified: Public
Slide 11: Portfolio Activity
Portfolio Activity As at 31 December 2024
Slide 12: Classified: Public
• • • • • • • • • • • Classified: Public
Slide 13: Portfolio activity during CY2024
y \/ VinaCapital y Portfolio activity during CY2024 INVESTED: US$118m KIDO croup ca MWG x MB © Privately negotiated: Listed Investment: Listed Investment: Structured swap: $35m $24m $21m $18m DIVESTED: US$206m KA rN AGB @OcB HOA PHAT Ké KHANG DIEN yen N N@va VA @) (H) TungVuongplaza oe ans CONSUMER
Slide 14: Discount Management
Discount Management As at 31 December 2024
Slide 15: Discount to NAV, Share Buyback and Dividends
-23.4% $76M $21M 14.5 DISCOUNT TO NAV SHARE BUYBACK DIVIDENDS PAID CENTS DIVIDEND CY2024 CY2024 DECLARED Classified: Public
Slide 16: Khanh Vu, Portfolio Manager
KHANH VU Portfolio Manager khanh.vu@vinacapital.com Classified: Public
VinaCapital Vietnam Opportunity Fund (VOF) — Investor Presentation (January 2025) on 6ix