“We raise money from both international and domestic investors, and we deploy it primarily in Vietnam,” she says. “We operate across products including funds and managed accounts, and across asset classes including listed equities, private equity, and bonds.”
VinaCapital’s core offerings are open-ended funds, which are domiciled in Vietnam; UCITS funds out of Luxembourg; and an older closed-ended fund that’s listed on the London Stock Exchange. “Our strategy is really to develop and market products for both international and domestic investors,” she says.
VinaCapital is also engaged in private equity in Vietnam, most of which is executed through its flagship fund called Vietnam Opportunity Fund, currently listed on the London Stock Exchange. “We can also do co-investments or managed accounts for private equity, primarily for international institutional clients,” she says.
Coming off the back of a great year for Vietnam’s economy, VinaCapital is focusing intently on its domestic business. “Although that is still a small part of our business, it has become an increasingly important part as we see the opportunity coming up in the next few years,” she says. “We’ve had a decent year in terms of fundraising and product development, and we hope to accelerate that within the next one to two, to really, five years really.”
For 2018, VinaCapital, she says will try to continue its fundraising momentum and raise and deploy a couple of new products. “We want to reinvigorate our efforts and international fundraising,” she says. “We are preparing to launch a new product primarily targeted at family offices and high net worth individuals outside of Vietnam, and so we’ll be focusing that over the next year.”
In terms of investment philosophy, Nguyen says that VinaCapital is a fundamentals-driven investment company.
“Whether we’re looking at listed opportunity or private opportunity, we really look at a company from a fundamental level,” she says. “Looking at the management, the brand position, and the growth potential over the next few years before we take a position and before we allocate into any of our portfolios.”
“We’ve always been like that and we generally like to look for undervalue companies in both the listed space and the unlisted space,” she reveals.