Vietnam-focused fund gives back gains as stocks sell off


The Vietnam-focused ASEAN Small Cap Fund (ASCF) posted a loss of 4% in September as a result of the continued sell-off in Vietnamese equities during the month.

However the Singapore-based fund is preparing to deploy more cash into Vietnam after selling the fund’s top REIT position that have appreciated 680% from their lows, according to fund manager ASEAN Investment.

Despite the fund’s 4% loss in September – which came on top of a 5% retreat in August – the fund is still showing a strong gain for the year of 26%whittled gains. And manager David O’Neil is