VinaCapital Vietnam Opportunity Fund Limited Q4 2026 Earnings Recap

The fund reported against a Vietnamese market that was roughly flat despite strong economic and earnings growth, as higher deposit rates weighed on equities. The fund’s own performance and portfolio results were not provided in the transcript excerpt.

Key Takeaways

• Vietnam’s government-reported GDP growth is 9%; the presenter estimated earnings growth could be around 30% this year.
• Vietnam’s stock market was described as basically flat, with 12-month deposit rates around 8%–9% and some reputable banks offering 10%.
• Infrastructure spending has risen around 50% and is currently about 6% of GDP; the government’s target is 10%.
• Computer and electronics exports, described as around 30% of GDP, are up 60%, particularly on high-tech exports to the U.S.
• The economist expects U.S. dollar borrowing, demographics, and industrialization to support growth over the coming years, while noting current interest rates are weighing on equities.