Public Mutual recently launch a Vietnam equity fund. I did some checks, this is not the 1st Vietnam equity fund as Hong Leong Asset Management also has got another Vietnam Equity fund called Hong Leong Vietnam Fund but is already closed down.
Public Mutual is riding on the recent trend of a trade war between US and China is going to benefit Vietnam. The stock exchange in Vietnam is the Ho Chi Minh stock exchange. The stock indexes for this country has been rapid rise based on 5 year time frame.
This news just in that Hong Leong Bank intends to open a digital bank in Vietnam shows the confidence the bank has in Vietnam.
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I just dropped in some cash into the Vietnam fund and somehow it got some psychological positive abeit small returns.
Some positive news in Vietnam where it was reported that their FDI (Foreign Direct Investments) increased by 3% from Jan to Nov 2019.
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As global markets get hit by this corona virus issue, the fund is also experiencing negative returns. However Vietnam is predicted to have the fastest growing economy in South East Asia post covid19.
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Vietnam's GDP 1H gross domestic product just came in with only 1.81 % growth. There's still 6 months more to go for Vietnam to get to the projected 4.8% growth but this is a real tall order for Vietnam.
Do take note that this fund is diluted with some companies from US and China. It's not a pure Vietnamese equity play but I do understand why there are other stocks of other countries invested also. It's to cushion the volatility.
A video from CNA released details more about Vietnam's economy and possible future direction.
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