Following a period of strong performance and a narrowing discount by Vietnam Holding, the investment trust has been added to the FTSE All-Share index in the latest quarterly reshuffle.
The trust has significantly outperformed its benchmark over the past year, and its share price appreciation means Vietnam Holding now joins the ranks of London’s top 500 or so companies by market cap in the FTSE All-Share index.
“Vietnam Holding’s share price has reached a record high recently driven by the combination of strong Net Asset Value growth and a narrowing of the discount between the share price and the Net Asset Value,” said Craig Martin, Chairman of Dynam Capital, the manager of Vietnam Holding.
“We see great growth prospects for the Vietnam economy in the years ahead. The portfolio is attractively priced and provides UK investors with an easy way to access an exciting and dynamic emerging market.”
The Vietnam Holding NAV is up 28.7% over the past year, driven by underlying Vietnam economic expansion and particular strength in exports as the country is increasingly seen as an alternative to China for manufacturing operations.
The latest reshuffle of FTSE indices saw Ocado, RS Group, and St James’s Place dumped out of the FTSE 100 to be replaced by Darktrace, LondonMetric, and Vistry.
