Mitihoon – InnovestX Securities Co., Ltd., the investment flagship of SCBX Group, reinforces its position as a market leader in private fund management, catering to Ultra High Net Worth Individuals (UHNWI). Through its Private Fund Management division under the Alpha Fund brand, InnovestX delivers differentiated global investment strategies that go beyond conventional mutual funds by employing deep fundamental analysis and high-conviction stock selection to generate long-term value. Alpha Fund currently manages four core strategies: TH Alpha (Thailand), VN Alpha (Vietnam), ID Alpha (Indonesia), and Global Alpha (developed markets such as the United States and Europe). Among these, VN Alpha Fund—its flagship strategy—has delivered an impressive cumulative return of +79% (1) since its inception in 2021, significantly outperforming the VN Index, which rose +36% over the same period (as of 31 August 2025). The fund’s Assets Under Management (AUM) have grown from THB 1 billion in 2019 to over THB 10 billion today, underscoring its long-term value creation capabilities and the deep expertise of InnovestX’s Private Fund team, particularly in the Vietnam market.
Mr. Phasuvut Vilainerun, CFA, Deputy Managing Director and Head of Private Fund, InnovestX Securities, commented: “Alpha Fund adopts an active management approach that combines rigorous fundamental research with high-conviction stock picking. We focus on identifying high-growth companies through comprehensive analysis—ranging from macroeconomic and industry trends to company fundamentals and the quality of management and ownership. Our team conducts regular on-the-ground company visits across markets to gain firsthand insights, including executive meetings, site visits, and stakeholder interviews. This enables us to assess both opportunities and risks in a holistic manner before making investment decisions. This disciplined strategy has allowed us to consistently outperform the market while maintaining portfolio agility to manage risk and capture sustainable long-term growth.
Alpha Fund maintains a positive long-term outlook on the Vietnamese equity market, viewing it as a compelling long-term investment opportunity. The recent rally in the VN Index to new highs reflects a normalization of valuations from previously depressed levels (P/E ratio was just 8.5x in April 2025), supported by robust earnings growth. Moreover, the companies selected by the Alpha Fund team continue to demonstrate consistent growth in both revenue and profitability. As such, the team believes that the Vietnamese market remains attractively valued and investable through a selective, fundamentals-driven approach.
Alpha Fund is committed to delivering sustainable growth for investors through sharp investment strategies, deep market insights, and agile active portfolio management that adapts to rapidly evolving market conditions,” Mr. Phasuvut concluded.
Designed specifically for Ultra High Net Worth clients, Alpha Fund offers a distinctive investment approach with three key pillars:
- High-Conviction Equity Investing
Focused, research-driven investments in a concentrated number of securities. The fund retains the flexibility to hold up to 100% cash when suitable opportunities are not identified. - Fundamental-Driven Stock Selection
Investments are based on in-depth fundamental analysis, targeting companies in structurally growing industries with mid-to-long-term catalysts and trading below intrinsic value. Speculative trading is avoided. - Intensive Executive-Level Due Diligence
Invests in companies led by experienced management teams with strong track records and aligned interests among founders, executives, and minority shareholders.
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