Kingsmead readies Vietnam small-/mid-cap fund

Vietnam has been a “terrible place to invest” since the 2008 financial crisis, admits John Foo, chief executive and chief investment officer of Kingsmead Asset Management. But he argues that the country is on the cusp of a turnaround, despite recent turmoil there. An influx of foreign direct investment (FDI) over the past few years has stabilised the currency and resulted in a current account surplus since 2012 after several years of deficit since 2006, said Foo, and inflation and…