A record one-in-five emerging market equity managers now own stocks in Vietnam, even though the south-east Asian country is not even in the widely followed MSCI index.
Fund managers are typically wary of straying far from the weightings of the underlying index they track, limiting appetite for going off piste into non-index countries.
However, 19.7 per cent of EM equity funds now hold Vietnamese stocks, triple the level of early 2014, according to data from Copley Fund Research, which monitors 193 funds with combined assets of $350bn.
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