Asean small cap fund reaps rewards in Vietnam


The Asean Small Cap Fund is starting to see its investments in Vietnam pay off. The fund gained 15.82% in February after a 8.17% gain in January.

The Singapore-based firm started investing heavily in Vietnamese equities in December and has continued to add to its position. That was well timed – the Vietnam Ho Chi Minh Stock Index gained more than 9% in February and is up more than 23% year to date.

Despite the rally, valuations in Vietnam are still quite low, explained David Roes of Asean Investment Management. While Thai or Indonesian stocks are trading around