VNAM

VNAM seeks to track an index of equities economically tied to Vietnam. The rules-based methodology considers companies meeting minimum market-cap and trading requirements. Securities should have a market cap greater than or equal to the 85th percentile of listed frontier market securities, tilting the portfolio to hold large- and mid-cap companies. The fund selects 57 securities that are weighted based on their free-float market cap. These weights are then adjusted using a liquidity discount factor, which proportionally lessens weights for companies with less liquidity. The largest company is limited to 25% of the fund, and an aggregate of 50% weight for all issuers that exceed 5%. The index is reviewed quarterly in February, May, August, and November. Rebalancing is done semi-annually, coinciding with May and November review. Prior to Dec. 1, 2023, the fund tracked MSCI Vietnam IMI Select 25/50 Index.