Portrait of American “shark” profiting greatly from the explosive rise of Vingroup: Earning tens of millions of USD, a rare fund that both VIC and VHM hold the largest share

The VanEck Vietnam ETF (VNM) has reported significant profits amidst the fluctuations of the Vietnamese stock market. As of May 20, the fund’s net assets reached $397.05 million, with an NAV of $12.95 per share, up 11.48% since the beginning of the year. Both Vingroup (VIC) and Vinhomes (VHM) stocks have shown strong growth, with VIC increasing by 125% and VHM by 68% from the start of the year to May 21. VIC represents 14.38% and VHM 10.13% of the fund’s net assets, propelling the VanEck Vietnam ETF’s value. The fund primarily invests in real estate, finance, and consumer goods, and is one of the few that has a significant share of both VIC and VHM.