Vietnam Quality Compounders
Hold 10–15 sector leaders with durable ROE, steady dividends and transparent management through multiple market cycles.
- Desk
- Public Equities
- Book
- Core holdings
- Horizon
- Long-term · 5+ years
- Last reviewed
- 11 Sept 2026
Thesis
Vietnam is a fast-growing middle-income economy with an expanding middle class, an emerging-market upgrade path and the new KRX trading system. Sector leaders in banking, retail, technology, consumer and logistics can grow earnings 12–18%/yr over the next decade. Buying and holding through sell-offs is the simplest way to capture it.
Rules
5-year ROE ≥ 15%, sector-appropriate leverage, cash dividends for ≥ 3 consecutive years. Buy in tranches over 3–6 months, accelerate when P/E is below its 5-year mean.
Sell only when: the thesis breaks (ROE below 10% for two years), governance issues, or the position exceeds 15% of the book.
5–12% of book per name; max 30% per sector.
Risk limits
- No margin
- Max 15 names, min 8
KPIs
- 5-year total return > VN-Index
- Dividend yield-on-cost rises annually
Instruments
- HOSE-listed equities (VN30 and non-VN30 leaders)
- VN30/VNDiamond ETFs as a base layer when capital is small