Lumen Vietnam Fund
About Us

Vietnam Holding Asset Management VNHAM

Is a Cayman Islands based investment advisor with a representative office in Ho Chi Minh City.

As an active investment advisor with a fundamental and value based approach, VNHAM seeks attractive risk-adjusted returns by combining rigorous financial analysis with interactive sustainability research.

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Vietnam
Why VNHAM

Focused and Active Value Investment in Vietnam

Sustainable Partnership with long-term relationships for shared growth. Systematic Approach as the methodical and adaptable management focused on long-term stability and growth. Achievement-Focused on commitment to results that bring maximum value and support sustainable development.

Experienced team

Decades of industry expertise

Value approach

Disciplined value investment combined with active portfolio trading

Result focused

Agile portfolio management to yield optimal return
Team

The Board of VietNam Holding Asset Management (VNHAM) plays a very active role in the management of the company. Members bring to our organization a wealth of professional experience in Vietnam, Asia, and the global financial community. The directors remain in close and regular contact with dedicated and advanced communication system, and physical meetings.

The Ho Chi Minh City team is headed by Chief Representative, Head of Advisory, and Head of Research.


In a frontier market like Vietnam, it is essential for an investment advisor company to have staff on the ground. VNHAM has always strived to hire qualified and motivated professionals, who share our distinctive values.

News

The latest news from our company and the world

We are happy to share with you information about our upcoming events, our achievements and the results of our work. Also, our team monitors and offers you news from official verified channels.

News

Vietnam

AQUIS-Fondsmanager Timpanaro: "Vietnam ist ein bisschen die Schweiz von Asien"

​​Hören Sie rein: Mario Timpanaro, der Fonds Manager hinter dem Lumen-Vietnam-Fonds von AQUIS Capital, spricht über die Bedeutung der Diversifikation im heutigen Markt, die potenziellen Vorteile vietnamesischer Aktien in Zeiten geopolitischer Spannungen und die besonderen Merkmale seines Fonds. Er gibt zudem einen Ausblick auf die kommende e-fundresearch.com Fonds-Dialog Roadshow in Österreich und teilt seine neuesten Erkenntnisse von einem Research-Trip nach Vietnam.

Click on the link for the full article.

These factors promise superior growth

​​In our newest market report, we present you the top 3 opportunity factors for Vietnam’s economy and an interview with fund manager Mario Timpanaro.

Click on the link for the full article.

Die China + 1-Strategie gibt unserem Vietnam-Fonds den Turbo

​​Die „Vietnams Bambus-Politik“, dem geschickten Balancieren zwischen völlig unterschiedlichen Handels-Partnern. Erlaubt dem Land jetzt von den geopolitischen Unsicherheiten, vor allem von der „China + 1“-Strategie, zu der sich viele westliche Unternehmen entschieden haben, zu profitieren.

Lesen Sie das Interview mit Mario Timpanaro zum Thema Vietnam

Click on the link for the full article.

Blog

More than 3,400 stalled projects nationwide reported to have obstacles cleared

More than 3,400 stalled projects nationwide reported to have obstacles cleared

These projects having combined investment capital of more than VND2.5 quadrillion ($95 billion).

As of September 15, 2026, a total of 4,685 projects facing prolonged difficulties and unresolved issues nationwide had been registered on the Ministry of Finance’s System.

Of these, 3,407 projects, accounting for 72.7% of the total, with combined investment capital of more than VND2.5 quadrillion ($95 billion), were reported to have completed the classification and resolution process and were therefore no longer facing difficulties.

Another 1,123 projects, equivalent to 23.97% of the total, have had proposed solutions prepared by ministries, sectors and local authorities for implementation in the coming period.

The remaining 155 projects, accounting for 3.3%, require solutions under the authority of the National Assembly, the Government or the Prime Minister, according to the Ministry of Finance.

Ho Chi Minh City has reported significant progress in addressing stalled projects. According to the Ho Chi Minh City Real Estate Association (HoREA), as of September 5, a total of 1,338 projects facing prolonged difficulties had been registered on the system of the municipal Department of Finance. These projects covered more than 30,691 hectares, with total investment capital of VND658.084 trillion.

After three months of intensive efforts, the southern city's 233 projects, or 25.3%, had their difficulties and obstacles removed. For the remaining 688 projects, accounting for 74.7%, municipal departments and agencies had proposed solutions for further handling.


Party General Secretary and President meets with US Trade Representative in New York

Party General Secretary and President meets with US Trade Representative in New York

The US Trade Representative said that once signed and implemented, the agreement on reciprocal, fair and balanced trade would continue to open up new opportunities and prospects for cooperation between the two countries.

NEW YORK — Việt Nam attaches importance to its Comprehensive Strategic Partnership with the United States and wishes to work with the administration of President Donald J. Trump to continue advancing bilateral relations in a stable, substantive, effective and sustainable manner, General Secretary of the Communist Party of Việt Nam Central Committee and President Tô Lâm has affirmed.

The leader made the affirmation at a meeting with US Trade Representative Ambassador Jamieson Greer in New York on the morning of September 21 (local time), as part of his trip to the US to attend the High-Level General Debate of the 81st Session of the UN General Assembly and conduct bilateral activities.

General Secretary and President Lâm stressed that economic, trade and investment cooperation is one of the most important pillars of bilateral relations, directly benefiting businesses and people and contributing to the development of both countries.

In recent years, Việt Nam has made efforts to substantively promote cooperation and purchase goods from the US in order to boost bilateral trade in a more balanced direction, while creating more orders, jobs and direct benefits for businesses and workers in both countries, he continued.

For his part, Greer highly appreciated the attention paid by General Secretary and President Lâm and Việt Nam's efforts to balance trade between the two countries. He also said that the two negotiating teams have made great efforts, and have so far made significant progress and come very close to reaching a final outcome.

The Trade Representative said that once signed and implemented, the agreement on reciprocal, fair and balanced trade would continue to open up new opportunities and prospects for cooperation between the two countries.

General Secretary and State President Lâm welcomed the very positive results achieved by the two sides toward the early signing of the agreement, creating a stable, long-term framework for economic, trade and investment relations.

He also called on the US to take a comprehensive approach to outstanding trade issues, including those related to investigations under Section 301 of the US Trade Act of 1974. On that basis, the leader expressed his wish that the two countries step up efforts to promote the substantive development of bilateral economic, trade and investment ties, thus bringing benefits to their people.


Da Nang plans 431ha gas-energy industrial park

Da Nang plans 431ha gas-energy industrial park

The site is envisioned as a specialised industrial area for gas and energy production, industries using energy and downstream gas products, as well as a national energy reserve and dual-use industrial center.

The central Da Nang city People’s Committee has held a meeting to review a proposed zoning plan for a gas-energy industrial park and industries using energy and downstream gas products.

According to a report presented at the meeting, the proposed industrial park would cover approximately 431 hectares in Nui Thanh Commune, in southern Da Nang.

The site is envisioned as a specialised industrial area for gas and energy production, industries using energy and downstream gas products, as well as a national energy reserve and dual-use industrial center.

The proposed zoning plan is aligned with Da Nang’s master plan for the 2021–2030 period, with a vision to 2050.

Under the adjusted master plan, Da Nang aims to expand its network of industrial parks, free trade zones and industrial clusters to increase production space and strengthen its capacity to attract investment.

The city’s industrial development plan for 2021–2030, with a vision to 2050, includes one high-tech park, 40 industrial parks and 115 industrial clusters.

The proposed gas-energy industrial park is expected to play a role in developing energy-related industries and downstream production, while contributing to the formation of a larger industrial base in southern Da Nang.


Contact

Please get in touch with us

If you would like to get in touch with us, please reach out to us and we’ll get back to you.

Cayman Islands

VietNam Holding Asset Management

Mario Timpanaro – Director

Collas Crill Corporate Services,
Willow House, Cricket Square,
PO Box 709, Grand Cayman Y1-1107,

Cayman Islands

Ho Chi Minh City – Representative Office

VietNam Holding Asset Management

Tran Kim Phuong – Chief Representative

Zen Plaza, Floor 1, Unit 106,
54-56 Nguyen Trai, Ben Thanh Ward,
Ho Chi Minh City,

Vietnam