Maintaining a diverse portfolio is essential to ensure that risks are minimised, and our investors have a balanced exposure to the opportunities in Vietnam’s economy. At the same time, we never spread ourselves too thinly, preferring to concentrate on the most attractive growth areas. This ensures we have the time and space to develop a core understanding of each fund holding and the industries in which they operate.
A key element of our proactive approach to responsible ownership is company engagement. And one of the most effective ways of achieving a meaningful dialogue with a firm is to spend time at their premises. “These site visits allow us to talk to people at all levels – from the shop floor to the board room,” says Kenno’s CEO Mikael Nastamo.
In March 2023, Kenno’s Head of Investments, Giang Nguyen, was accompanied by Mikael on a journey to Dĩ An, Binh Duong province in Southeast Vietnam to visit the premises of Masan Group Corporate. MSN is a consumer group that markets a range of established products, such as fish sauce, soya sauce, instant noodles, and beverages.
The Fund’s portfolio holding company Masan Meal Life (MML), a subsidiary of MSN, is a pioneer in Vietnam’s chilled meat industry. It strives to boost productivity in the country’s animal protein industry and deliver traceable yet affordable meat products (fresh and processed pork and chicken) to its customers.
We will meet with MML again in late April when our team attends the firm’s AGM, which will be held in Ho Chi Minh City.