Manager Comment Q4 2019 – Vietnam Fund

The AFC Vietnam Fund gained +2.3% in December with a NAV of USD 1,789.27, bringing the return since inception to +78.9%. This represents an annualized return of +10.1% p.a. The Ho Chi Minh City VN Index in USD lost −0.9%, while the Hanoi VH Index gained +0.1% (in USD...

Manager Comment September 2019 – Vietnam Fund

The AFC Vietnam Fund decreased by −1.9% in September with a NAV of USD 1,831.46, bringing the return since inception to +83.1%. This represents an annualized return of +11.1% p.a. The Ho Chi Minh City VN Index in USD gained +1.3%, while the Hanoi VH Index added +2.7%...

Manager Comment July 2019 – Vietnam Fund

The Vietnam Fund returned +1.2 % in July with a NAV of USD 1,836.89, bringing the return since inception to +83.7%. This represents an annualized return of +11.5% p.a. The Ho Chi Minh City VN Index in USD gained +4.8%, while the Hanoi VH Index added +1.3% (in USD...

Manager Comment June 2019 – Vietnam Fund

The Vietnam Fund returned +2.0 % in June with a NAV of USD 1,815.41, bringing the return since inception to +81.5%. This represents an annualized return of +11.4% p.a. The Ho Chi Minh City VN Index in USD lost −0.6%, while the Hanoi VH Index lost −0.3% (in USD terms)....

Manager Comment May 2019 – Vietnam Fund

The Vietnam Fund returned −3.3% in May with a NAV of USD 1,780.23, bringing the return since inception to +78.0%. This represents an annualized return of +11.2% p.a. The Ho Chi Minh City VN Index in USD lost −2.8%, while the Hanoi VH Index lost −3.7% (in USD terms)....

Manager Comment April 2019 – Vietnam Fund

The Vietnam Fund gained +0.8% in April with a NAV of USD 1,841.87, bringing the return since inception to +84.2%. This represents an annualized return of +12.1% p.a. The Ho Chi Minh City VN Index in USD lost −0.2%, while the Hanoi VH Index lost −0.1% (in USD terms)....
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