VietNam Holding Ltd (LSE:VNH), the Vietnamese investment company, outperformed the Vietnam All Share (VNAS) index in March.
The fund’s investment manager, Dynam Capital Limited, reported a 2.3% increase in the net asset value (NAV), which Dynam said reflected the country’s “extraordinary growth story through its approach to responsible investing in companies with purpose and sound potential for long-term, sustainable performance”.
Vietnam now exports far more per capita than China and in 2021 had the world's third-largest trade surplus with the US, ahead of Germany and Japan and only behind China and Mexico, Dynam noted.
FPT, the leading information technology service company in Vietnam and the fund’s largest holding, was a positive contributor once again and Dynam said it believes it could achieve more than 20% net profits after tax (NPAT) growth in 2022 due to increasing demand both at home and abroad.
Other top contributors in March, GMD and HAH, remain well placed in the logistics sector given the higher demand for international trade despite the ever-increasing shortage of container shipping supply due to Covid disruptions and geopolitical implications of the Ukraine war, the investment manager said.
Both companies are forecast to achieve significant NPAT growth - GMD, 50% and HAH, 70% - in 2022 on top of the high base seen in 2021.
Shares in VietNam Holding were unchanged in the first hour of trading.