The re-opening of the economy in Vietnam during the fourth quarter of 2021 has enabled VinaCapital’s investment managers in Real Estate, Private Equity, Venture Capital and Clean Energy to close several important deals. Additionally, the re-opening and subsequent rebound in economic growth means that our pipeline of potential new investments is quite robust. Being on the ground in Ho Chi Minh City, we continue to be very selective on our investee companies, and large scale real estate and energy projects.
On 13 January 2022 – VinaCapital Fund Management Joint Stock Company (“VCFM”) is pleased to announce that its open-ended funds ended 2021 with some of the highest returns in their respective categories. VESAF led the way with a return of 67.0%, making it the best-performing open-ended equity fund in the market in 2021, a continuation of its leading position in 2020. VEOF increased 56.5%, ranking second in the market. Meanwhile, the company’s balanced fund, VIBF returned 35.2%, ranking it second among funds with similar investment strategies. VFF, a bond fund, increased 7.7%, also taking first place for performance in that class. Both equity funds significantly outperformed the benchmark VN-Index in 2021 (+35.7%).
In today’s “Looking Ahead at 2022” Insight, Michael Kokalari, VinaCapital’s Chief Economist, shares our firm’s outlook on the Vietnam economy and stock market. Since this is our “annual” piece and not one of our regular bi-weekly pieces, we go into more detail with eight pages instead of two pages. The VN Index was up 37.3% in USD terms in 2021 and we believe 2022 will be another strong year for the stock market, as corporate earnings in Vietnam continue to be strong. Importantly even after the great performance the stock market, valuations remain quite attractive due to the strong corporate earnings, rather than simply PE multiple expansion.
On 7 January 2022 – VinaCapital Ventures announced that it joined the oversubscribed Series B fundraising round for Sygnum, a digital asset technology group with a Swiss banking license and a Singapore asset management license. The Series B funding round raised USD90 million and values the company at approximately USD800 million.