Vietnam Equity Special Access Fund (VESAF)

Vietnam Equity Special Access Fund (VESAF)

Summary of VESAF

The Vietnam Equity Special Access Fund (VESAF) is a Vietnam-regulated and domiciled actively managed open-ended fund that invests into equities and equity-related securities of companies based in Vietnam. The fund’s objective is to generate attractive risk-adjusted returns over the long-term, through bottom-up stock selection and disciplined risk management.

The fund will seek to invest into Vietnam’s most attractive companies, many of which are newly-listed or undergoing privatization, and are currently out of reach to most international investors due to lack of research coverage and/or foreign ownership limits (FOL). The investment manager will employ the following portfolio strategy:

  • A buy and hold strategy with low portfolio turnover
  • Focused on mid and small-cap opportunities
  • Concentrated on high conviction stocks
  • Expanded investment universe to include UPCOM and OTC stocks
  • No constraints in foreign ownership limit (FOL) since the fund is a Vietnamese entity and will not face any limits in the equities market

Vietnam Equity Special Access Fund (VESAF)

Vietnam Equity Special Access Fund (VESAF) Key Terms
Structure Open-ended fund regulated  by the Vietnam State Securities Commission (SSC)
Domicile Vietnam
Strategy Geographical focus is Vietnam, fundamental, long-term investment approach
Foreign-Ownership Limit No constraint, fund is a local Vietnamese entity
Subscription/Redemption Dealing Date Weekly, on Tuesday. Cut off time is 10:30am Monday, Vietnam time.
Valuation Policy Net Asset Value (NAV)
NAV Frequency Weekly, available on T+3
Valuation Currency Vietnam Dong (VND)
Investment Manager VinaWealth Fund Management Joint-Stock Company
Supervisory Bank, Custodian Bank, Fund Administrator Standard Chartered Bank Vietnam
Transfer Agency Vietnam Securities Depository (VSD)
Auditor Ernst & Young Vietnam
Distributor VinaWealth Fund Management Joint-Stock Company

 

Vietnam Equity Special Access Fund (VESAF) – How to Invest

VinaFlex VinaFii
Investor Type Local (Vietnamese) investors, both retail and institutional Foreign investors, both retail and institutional
Initial issue price VND 10,000 per fund unit (~USD 0.44) VND 10,000 per fund unit (~USD 0.44)
Minimum Investment VND 2 million (~USD 88) VND 100 million (~USD 4425)
Minimum Holding 10 fund units 10 fund units
Management Fee 1.75% per annum 1.75% per  annum
Subscription Fee (Front Load) 0% 0%
Redemption Fee 2.5% within the first year, 1% thereafter, calculated separately for each investment tranche 3% within the first year, 1% in the second year, 0% thereafter, calculated from the date of first investment in the account
Subscription Steps 1.Open account with VinaWealth

2.Complete subscription order

3.Transfer money from the investor’s personal or organizational account into the fund custody account

1.Open an Indirect Investment Capital Contribution (IICA) account.*

2.Transfer money from offshore into the IICA

3.Open account with VinaWealth

4.Complete subscription order

5.Transfer money from the IICA into the fund custody account

*For foreign investors not living in Vietnam

Weekly NAV Reports

– Will be uploaded

VESAF Reports

– Will be uploaded

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