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

InnoEx 2025 to spotlight innovation and digital assets in HCMC

InnoEx 2025 to spotlight innovation and digital assets in HCMC

The event is expected to draw 4,000 CEOs and founders, 300 exhibitors, over 100 startups from Vietnam and abroad, and more than 70 investment funds and financial institutions.

The International Innovation Forum & Expo (InnoEx 2025) is set to take place on August 21–22 in Ho Chi Minh City, under the theme “Shaping the Future Economy: From Data to Digital Assets."

The event is expected to draw 4,000 CEOs and founders, 300 exhibitors, over 100 startups from Vietnam and abroad, and more than 70 investment funds and financial institutions.

Organized annually by the Ho Chi Minh City Young Businesspeople Association (YBA) and the Business Startup Support Centre (BSSC), InnoEx serves as a key platform for dialogue within the framework of the Vietnam Private Economic Forum. It offers a space for the private business community and international organizations to share initiatives and contribute to shaping innovation-driven policies.

Speaking at a press briefing on July 9, YBA Chairman Le Tri Thong emphasized the significance of recent national directives, stating “With the recent issuance of key national directives like Resolutions 57, 59, 66, and 68, we are witnessing a pivotal moment. The national strategy is now paving the way, guiding corporate strategies across the entire economy into a new era.”

Among these, Politburo Resolution No. 57-NQ/TW prioritizes breakthroughs in science, technology, innovation, and digital transformation, affirming them as the main drivers of national growth. Meanwhile other resolutions, also from the Politburo —59-NQ/TW on international integration, 66-NQ/TW on legal reform, and 68-NQ/TW on private sector development—collectively establish a robust legal framework for comprehensive transformation.

Ms. Trương Ly Hoang Phi, Vice Chairwoman of YBA and Head of the InnoEx 2025 Organizing Committee, underscored the urgency of action: “When data becomes an asset, technology an engine of growth, and innovation the only path forward, taking immediate action is no longer an option—it is an imperative.”

Montreux Jazz Festival proposed for Hanoi

Montreux Jazz Festival proposed for Hanoi

The festival is seen as a way to strengthen the growing friendship between Vietnam and Switzerland.

THE HANOI TIMES —The iconic Montreux Jazz Festival may soon come to Hanoi as part of a series of cultural events celebrating the 55th anniversary of diplomatic relations between Vietnam and Switzerland in 2026.

This idea was suggested by Swiss Ambassador to Vietnam Thomas Gass during his July 7 meeting with Hanoi People’s Committee Chairman Tran Sy Thanh.

If realized, the festival, one of the world’s most renowned music events, would be a major highlight of the commemorative celebrations.

Ambassador Gass also informed the Hanoi chairman that the restoration of the Flower Clock, a symbolic gift from the city of Bern to Hanoi for the 1000th anniversary of Thang Long–Hanoi more than a decade ago, has been completed. He suggested holding an official inauguration ceremony for the landmark this October.

Thanh affirmed Hanoi’s full support for the anniversary celebrations and stated that the city is willing to collaborate with the embassy to organize all bilateral activities.

Regarding the iconic clock, Thanh welcomed Gass’s proposal and affirmed Hanoi’s commitment to enhancing the Hoan Kiem Lake–based site as a symbol of friendship between Vietnam and Switzerland and between Hanoi and Bern.

The two sides also discussed a wide range of prospects for cooperation.

The city leader highlighted Switzerland’s strengths in urban planning, infrastructure development, and environmental technologies, especially river and lake management, areas in which Hanoi hopes to collaborate.

Ambassador Gass congratulated Vietnam and Hanoi on their recent success in administrative reform and territorial reorganization, noting that they achieved such progress in record time.

He said many countries typically require three to four years to accomplish what Vietnam has done in a much shorter period.

HCM City approves 17 housing projects for foreign ownership

HCM City approves 17 housing projects for foreign ownership

HCM City authorities have approved 17 commercial housing projects for sale to foreign individuals and organisations, a move aimed at expanding regulated foreign access to the local real estate market.

HCM CITY — HCM City authorities have approved 17 commercial housing projects for sale to foreign individuals and organisations, in a move aimed at expanding regulated foreign access to the local real estate market.

The announcement, made by the city’s People’s Committee, confirms that all 17 projects are located in areas deemed free from national defence and security risks, a key requirement under Vietnamese law.

The approved projects span several districts, with six in the former Thủ Đức City, four in District 7, and three in Nhà Bè District. One project each is located in the former Districts 4, 12, Tân Phú and Bình Chánh.

Notable projects include the City Garden apartments by Vườn Phố JSC, the Dragon Village development by Dragon Village Real Estate JSC, and Celadon City by Gamuda Land.

In addition, the Department of Construction will publish detailed project information on its official portal and has been instructed to inspect four other projects with foreign involvement in sensitive areas: Hưng Vượng 1 – R16, Hưng Vượng 2 – R13, Star Hill – C15B (former District 7), and The Prince Residence (former Phú Nhuận District). Any violations must be reported to authorities.

The Department of Finance has also been tasked with coordinating with city police to ensure future housing investments align with national land use plans for defense and security through 2050.

Under Việt Nam’s 2023 Housing Law and Decree No 95/2024, foreign individuals and legal entities may own homes in the country if they meet specific legal and immigration criteria.

Foreigners are allowed to buy units in commercial housing projects not affecting national defense or security, with a cap of 30 per cent of units in a condominium building or 250 standalone houses per ward-level area.

Foreign entities investing in residential projects must hold a valid investment registration certificate.

Those not directly involved in property development but wishing to purchase must possess a valid investment licence or equivalent documents issued by Vietnamese authorities.

The move is part of Việt Nam’s ongoing efforts to clarify and regulate foreign participation in its real estate market, balancing economic openness with national security considerations.

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,
District 1, Ho Chi Minh City,

Vietnam