Update (Oct 2026): Andy Ho, VOF's lead manager, passed away in June 2024, with Khanh Vu, his deputy, taking over the role in early 2025. From 1 July 2026, the trust cut its fees from 1.3% to 1.2% on the first $500m, then 0.8% to $1.5bn, and 0.5% thereafter, while also revising its performance fee so that it is based on the FTSE Vietnam All-Share Index rather than a 10% hurdle rate. VOF returned +7.8% in the year to June 2024, -2.2% to June 2025, and +10.5% to June 2026. Performance has lagged the Vietnamese market over the last couple of years, though, due to being underweight Vingroup and its...
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UPDATE (Oct 2026): In the year to June 2025, VNH returned -2.5% versus a +9.8% gain for the VN Index. In the year to June 2026, VNH produced +4.5% but was beaten again by its benchmark, which posted +32.4%. In both years, the index's gains were driven by a small group of stocks, most notably Vingroup and its related companies, which the trust generally does not own. VNH redeemed 18% of its shares in its 2025 realisation opportunity and 15% in 2026.
VietNam Holding (ticker: VNH) was launched on AIM in 2006, raising $112.5m at $2 per share. At the time, Vietnamese markets were very much flavou...
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