AQUIS Capital

09/10/2026

𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐰𝐚̈𝐜𝐡𝐬𝐭. 𝐖𝐞𝐥𝐜𝐡𝐞 𝐔𝐧𝐭𝐞𝐫𝐧𝐞𝐡𝐦𝐞𝐧 𝐰𝐚𝐜𝐡𝐬𝐞𝐧 𝐦𝐢𝐭?

Verbesserte Infrastruktur. Produktion mit höherer Wertschöpfung. Eine wachsende Mittelschicht.

Diese Entwicklungen treiben Vietnams nächste Wachstumsphase an. Für Anleger stellt sich die entscheidende Frage: Welche Unternehmen können daraus nachhaltiges Gewinnwachstum erzielen?

Im Interview mit dem private banking magazin erläutert Mario Timpanaro, Manager des Lumen Vietnam 𝐅𝐮𝐧𝐝 bei AQUIS Capital:

🔹 Was ihn am Tempo des Wandels besonders überrascht.
🔹 Wo er Chancen bei ausgewählten Konsum-, Versicherungs- und Energieunternehmen sieht.
🔹 Welche Bedeutung die Weiterentwicklung des Kapitalmarktes für internationale Anleger hat.

🎥 𝘏𝘪𝘦𝘳 𝘨𝘦𝘩𝘵’𝘴 𝘻𝘶𝘮 𝘐𝘯𝘵𝘦𝘳𝘷𝘪𝘦𝘸:
https://www.private-banking-magazin.de/vietnam-wachstum-mario-timpanaro-aquis-capital/

Wie würden Sie Vietnam in Ihrem Portfolio abbilden: als gezielte Länderallokation oder über breitere Themen wie Konsum, Infrastruktur und Asiens Wachstum?

Herzlichen Dank an Malte Dreher, 🎙️ Peter Ehlers 🎙️, Viktoria Delius-Trillsch, Felix Tornow und das Team des private banking magazin für den spannenden Austausch beim private banking kongress in Hamburg!

Mario Timpanaro von Aquis Capital über Vietnams Wachstum, Infrastruktur, Konsum und die mögliche Hochstufung des Aktienmarktes.

09/10/2026

𝐀𝐐𝐔𝐈𝐒 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐄𝐯𝐞𝐧𝐭 𝟐𝟎𝟐𝟔 – 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐚 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐞 𝐖𝐨𝐫𝐥𝐝

We look forward to bringing investors and investment professionals together for our annual flagship event and a day of investment ideas, insights and discussion.

𝐖𝐡𝐞𝐧: Tuesday, 3 November 2026 | 11:30–18:00
𝐖𝐡𝐞𝐫𝐞: Zurich

𝐇𝐞𝐝𝐠𝐞 𝐅𝐮𝐧𝐝𝐬 𝐚𝐫𝐞 𝐁𝐚𝐜𝐤!

The hedge fund segment of our agenda will explore the renewed relevance of liquid alternatives in today’s market environment, with perspectives across two distinct strategies:
▫️ Global Macro
▫️ Event Driven

We are delighted to welcome our speakers and look forward to discussing the evolving opportunity set for hedge fund managers and investors - and, most importantly, bringing people together.

Interested in joining us? Please get in touch to learn more about the event.

02/10/2026

𝐀𝐐𝐔𝐈𝐒 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫 𝐄𝐯𝐞𝐧𝐭 𝟐𝟎𝟐𝟔 – 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐚 𝐕𝐨𝐥𝐚𝐭𝐢𝐥𝐞 𝐖𝐨𝐫𝐥𝐝

We are looking forward to bringing investors and investment professionals together for our annual flagship event and an evening of investment ideas, insights and discussion.
𝐖𝐡𝐞𝐧: 𝐓𝐮𝐞𝐬𝐝𝐚𝐲 𝟑𝐫𝐝. 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝐟𝐫𝐨𝐦 𝟏𝟏.𝟑𝟎𝐡 – 𝟏𝟖𝐡 𝐢𝐧 𝐙𝐮𝐫𝐢𝐜𝐡.

𝐏𝐚𝐫𝐭 𝟑 𝐨𝐟 𝐨𝐮𝐫 𝐚𝐠𝐞𝐧𝐝𝐚 𝐢𝐬 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐀𝐬𝐢𝐚 & 𝐕𝐢𝐞𝐭𝐧𝐚𝐦
Japan From One Night in Tokyo
China to the Speed Trains of China
Vietnam to Vietnam’s Rise to Emerging Markets

We are delighted to welcome a distinguished group of speakers and look forward to sharing perspectives, discussing investment opportunities and, most importantly, bringing people together.

𝐏𝐥𝐚𝐜𝐞𝐬 𝐚𝐫𝐞 𝐥𝐢𝐦𝐢𝐭𝐞𝐝. 𝐈𝐟 𝐲𝐨𝐮 𝐰𝐨𝐮𝐥𝐝 𝐥𝐢𝐤𝐞 𝐭𝐨 𝐣𝐨𝐢𝐧 𝐮𝐬, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐰𝐫𝐢𝐭𝐞 𝐭𝐨 𝐮𝐬 𝐚𝐭 𝐧𝐠𝐮𝐲𝐞𝐧@𝐚𝐪𝐮𝐢𝐬-𝐜𝐚𝐩𝐢𝐭𝐚𝐥.𝐜𝐨𝐦

02/10/2026

𝐇𝐞𝐝𝐠𝐞 𝐟𝐮𝐧𝐝𝐬 𝐚𝐫𝐞 𝐛𝐚𝐜𝐤. 𝐖𝐡𝐲 𝐧𝐨𝐰?

Join the conversation at the 𝟏𝟎𝐭𝐡 𝐀𝐧𝐧𝐮𝐚𝐥 𝐒𝐰𝐢𝐭𝐳𝐞𝐫𝐥𝐚𝐧𝐝 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐅𝐨𝐫𝐮𝐦 from 30th. September to 1st. October at the Dolder in Zurich.

We look forward to meeting investors and discussing the evolving role of hedge funds in today's market environment.

25/09/2026

We are pleased to announce that AQUIS Capital will be attending the 𝟏𝟎𝐭𝐡 𝐀𝐧𝐧𝐮𝐚𝐥 𝐒𝐰𝐢𝐭𝐳𝐞𝐫𝐥𝐚𝐧𝐝 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐅𝐨𝐫𝐮𝐦 𝐢𝐧 𝐙𝐮𝐫𝐢𝐜𝐡 𝐨𝐧 𝟑𝟎 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝐚𝐧𝐝 𝟏 𝐎𝐜𝐭𝐨𝐛𝐞𝐫.

Following a 𝐠𝐫𝐞𝐚𝐭 𝐫𝐨𝐮𝐧𝐝𝐭𝐚𝐛𝐥𝐞 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧 𝐚𝐭 𝐭𝐡𝐞 𝐫𝐞𝐜𝐞𝐧𝐭 𝐀𝐋𝐓𝐒𝐔𝐊 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐢𝐧 𝐋𝐨𝐧𝐝𝐨𝐧, we look forward to continuing the conversation on the evolving role of hedge funds in today's investment landscape.

𝐑𝐨𝐮𝐧𝐝𝐭𝐚𝐛𝐥𝐞 𝐃𝐢𝐬𝐜𝐮𝐬𝐬𝐢𝐨𝐧: 𝐋𝐢𝐪𝐮𝐢𝐝 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞𝐬: 𝐇𝐞𝐝𝐠𝐞 𝐅𝐮𝐧𝐝𝐬 𝐀𝐫𝐞 𝐁𝐚𝐜𝐤. 𝐖𝐡𝐲 𝐍𝐨𝐰?

In a market environment characterized by shifting macroeconomic conditions, elevated uncertainty, and increasing dispersion across asset classes, hedge funds are once again attracting investors' attention. But what is driving this renewed interest, and how can investors access the opportunity most effectively?

Join our roundtable discussion, where Caroline Wirth and Son Nguyen will explore the role of hedge funds within today's investment landscape and discuss how a multi-manager approach can help investors build more resilient and diversified portfolios while seeking consistent risk-adjusted returns.

We look forward to exchanging ideas, discussing industry trends, and connecting with institutional investors and industry professionals throughout the event.

If you will be attending and would like to arrange a meeting, please feel free to get in touch.

25/09/2026

🥂 𝐅𝐢𝐧𝐚𝐥𝐥𝐲, 𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐮𝐩𝐠𝐫𝐚𝐝𝐞𝐝 𝐭𝐨 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭

On Monday 21st. September, Vietnam officially enters the 𝐅𝐓𝐒𝐄 𝐑𝐮𝐬𝐬𝐞𝐥𝐥 𝐒𝐞𝐜𝐨𝐧𝐝𝐚𝐫𝐲 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 universe.

For the Lumen Vietnam 𝐅𝐮𝐧𝐝, this is a milestone we have anticipated and worked towards as long-term investors in Vietnam for many years.

The upgrade was earned through meaningful reforms:
→ Easier access for international investors
→ Removal of important pre-funding barriers
→ Improved trading, clearing and settlement processes
→ Greater transparency and stronger market supervision
→ Capital-market infrastructure increasingly aligned with international standards

This matters far beyond an index classification.

It confirms the Vietnamese government’s commitment to opening its financial markets and brings one of Asia’s most dynamic economies closer to the global investment community.

The upgrade could attract significant international capital. But the larger opportunity lies in what comes next: a deeper and more liquid market, stronger institutions and greater global participation in Vietnam’s long-term growth story.

The Lumen Vietnam 𝐅𝐮𝐧𝐝 has invested in that transformation for more than a decade, supported by our local investment team in Ho Chi Minh City.

Today, we celebrate how far Vietnam has come.

Tomorrow, we continue identifying the companies that can shape and benefit from its next chapter.

𝐕𝐢𝐞𝐭𝐧𝐚𝐦’𝐬 𝐞𝐦𝐞𝐫𝐠𝐢𝐧𝐠-𝐦𝐚𝐫𝐤𝐞𝐭 𝐣𝐨𝐮𝐫𝐧𝐞𝐲 𝐬𝐭𝐚𝐫𝐭𝐬 𝐡𝐞𝐫𝐞.

What could this milestone mean for Vietnam’s position in global portfolios?

https://vietnamnews.vn/economy/1800124/viet-nam-marks-entry-into-ftse-global-emerging-market-index.html

25/09/2026

𝐋𝐮𝐦𝐞𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦 𝐦𝐞𝐞𝐭𝐬 𝐃𝐀𝐁 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐠𝐫𝐞𝐬𝐬 𝟐𝟎𝟐𝟔 𝐢𝐧 𝐌𝐮𝐧𝐢𝐜𝐡

Vietnam continues to stand out as one of Asia’s most dynamic growth markets – supported by strong economic growth, rising domestic consumption and the country’s growing role in global supply chains.
At the 𝟐𝟖𝐭𝐡 𝐃𝐀𝐁 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐠𝐫𝐞𝐬𝐬, we look forward to discussing what this means for investors and where we currently see opportunities.

Visit us at the AQUIS Capital 𝐛𝐨𝐨𝐭𝐡 to talk about:
▫️ Investing in Vietnam and Asia’s growth opportunities
▫️ The Lumen Vietnam 𝐅𝐮𝐧𝐝
▫️ Current market developments and long-term investment themes
▫️ Vietnam as a source of portfolio diversification

As the congress coincides with the opening days of 𝐌𝐮𝐧𝐢𝐜𝐡’𝐬 𝐰𝐨𝐫𝐥𝐝-𝐟𝐚𝐦𝐨𝐮𝐬 𝐎𝐤𝐭𝐨𝐛𝐞𝐫𝐟𝐞𝐬𝐭, it is the perfect opportunity to combine insightful investment discussions with one of Germany’s most iconic networking traditions.

25/09/2026

𝐒𝐭𝐚𝐫𝐤𝐞 𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐤𝐝𝐚𝐭𝐞𝐧 𝐯𝐞𝐫𝐛𝐞𝐬𝐬𝐞𝐫𝐧 𝐝𝐢𝐞 𝐁𝐨̈𝐫𝐬𝐞𝐧𝐬𝐭𝐢𝐦𝐦𝐮𝐧𝐠

Vor dem 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐊𝐨𝐧𝐠𝐫𝐞𝐬𝐬 𝐢𝐧 𝐇𝐚𝐦𝐛𝐮𝐫𝐠 freuen wir uns, unseren aktuellen Beitrag im private banking magazin zu teilen.

Starkes Wirtschaftswachstum und dennoch haben viele Anleger Vietnam noch nicht auf dem Radar.

Gerade darin liegt eine interessante Diskrepanz: Während sich die globale Aufmerksamkeit auf wenige grosse Märkte und Technologiethemen konzentriert, verbessern sich in Vietnam gleichzeitig Wachstum, Unternehmensgewinne und Marktstrukturen.

In unserem aktuellen Beitrag im private banking magazin erläutert Mario Timpanaro, Manager des Lumen Vietnam 𝐅𝐮𝐧𝐝 𝐛𝐞𝐢 AQUIS Capital, weshalb Vietnam einen genaueren Blick verdient:

▫️ eine wachsende Mittelschicht und zunehmender Binnenkonsum
▫️ steigende Investitionen in Infrastruktur
▫️ eine stärkere Integration in globale Technologie- und Lieferketten
▫️ robustes Unternehmensgewinnwachstum
▫️ weiterhin moderate Aktienbewertungen
▫️ die bevorstehende Hochstufung zum „Secondary Emerging Market“

Vietnam ist längst mehr als ein kostengünstiger Produktionsstandort. Das Land entwickelt sich zunehmend zu einem wichtigen Technologie-, Industrie- und Konsumstandort in Asien.

Vielen Dank an das private banking magazin für das interessante Gespräch.

Mario Timpanaro, Manager des Lumen Vietnam Fonds bei AQUIS Capital, über Vietnams starkes Wachstum, attraktive Bewertungen und die Chancen, die sich durch die zunehmende Integration in globale Lieferketten ergeben.

25/09/2026

𝐖𝐚𝐬 𝐡𝐚𝐛𝐞𝐧 𝐀𝐦𝐚𝐳𝐨𝐧𝐬 𝐊𝐈-𝐑𝐞𝐜𝐡𝐞𝐧𝐳𝐞𝐧𝐭𝐫𝐞𝐧, 𝐀𝐩𝐩𝐥𝐞-𝐙𝐮𝐥𝐢𝐞𝐟𝐞𝐫𝐞𝐫 𝐮𝐧𝐝 𝐝𝐞𝐮𝐭𝐬𝐜𝐡𝐞 𝐔𝐧𝐭𝐞𝐫𝐧𝐞𝐡𝐦𝐞𝐧 𝐠𝐞𝐦𝐞𝐢𝐧𝐬𝐚𝐦?

Sie setzen zunehmend auf Vietnam.

Ziehl-Abegg produziert dort Ventilatoren für die KI-Infrastruktur von Amazon. LG investiert rund eine Milliarde US-Dollar in ein neues Werk. Unternehmen wie Samsung, Google und Tesa haben Vietnam längst zu einem wichtigen Produktionsstandort gemacht.

Vietnam ist längst mehr als eine Alternative zu China. Das Land entwickelt sich zu einem zentralen Gewinner der globalen Neuordnung von Lieferketten.

Vietnam verbindet heute drei starke Wachstumsfaktoren:
▶️ Diversifizierung globaler Lieferketten
▶️ Steigende Hightech-Produktion
▶️ Eine schnell wachsende Binnenwirtschaft
Der aktuelle Handelsblatt-Artikel zeigt eindrücklich, warum Vietnam zu den spannendsten Wachstumsmärkten Asiens zählt – aber auch, welche Risiken Investoren im Blick behalten sollten.

𝐋𝐞𝐬𝐞𝐧 𝐒𝐢𝐞 𝐝𝐞𝐧 𝐯𝐨𝐥𝐥𝐬𝐭𝐚̈𝐧𝐝𝐢𝐠𝐞𝐧 𝐀𝐫𝐭𝐢𝐤𝐞𝐥 𝐡𝐢𝐞𝐫 👇

https://www.handelsblatt.com/politik/international/wirtschaft-wie-vietnam-von-trumps-zollpolitik-profitieren-konnte-01/100245063.html?mls-token=0528f6368d3c82f9ec1902b080d7a28afabf929b75555bf1b5f4810031d6985531a8b4d72ef07c64ad439806e95ee3b40100245063&utm_medium=in&utm_source=app&utm_campaign=verschenken

25/09/2026

𝐁𝐚𝐜𝐤 𝐟𝐫𝐨𝐦 𝐲𝐨𝐮𝐫 𝐬𝐮𝐦𝐦𝐞𝐫 𝐡𝐨𝐥𝐢𝐝𝐚𝐲 𝐨𝐫 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐧𝐞𝐱𝐭 𝐨𝐧𝐞? ✈️

Some of our most interesting conversations about Vietnam begin with a personal travel experience.
Clients and prospective investors often describe the same impressions: entrepreneurial people, thriving cities, growing consumer confidence and a country developing at remarkable speed. These observations are anecdotal, but they frequently encourage investors to examine Vietnam’s fundamentals more closely.

📊 𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐜𝐨𝐧𝐟𝐢𝐫𝐦𝐬 𝐭𝐡𝐞 𝐦𝐨𝐦𝐞𝐧𝐭𝐮𝐦
Vietnam welcomed 13.9 million international visitors during the first seven months of 2026 an increase of 13.8% year-on-year.

𝐓𝐨𝐮𝐫𝐢𝐬𝐦 𝐢𝐬 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝐚 𝐬𝐨𝐮𝐫𝐜𝐞 𝐨𝐟 𝐟𝐨𝐫𝐞𝐢𝐠𝐧-𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐫𝐞𝐯𝐞𝐧𝐮𝐞𝐬. 𝐈𝐭𝐬 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐢𝐦𝐩𝐚𝐜𝐭 𝐞𝐱𝐭𝐞𝐧𝐝𝐬 𝐚𝐜𝐫𝐨𝐬𝐬:

🏨 hospitality and leisure
🛫 aviation and transportation
🛍️ retail and consumer brands
💳 financial services and digital payments
🏗️ infrastructure and real estate

This creates a multiplier effect across the domestic economy. It supports employment, accelerates investment and introduces Vietnamese businesses and brands to a growing international customer base.

However, a positive travel experience alone is not an investment thesis. The relevant question is which listed companies can convert this broad growth into sustainable earnings and cash flows.

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐰𝐡𝐞𝐫𝐞 𝐥𝐨𝐜𝐚𝐥 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐦𝐚𝐭𝐭𝐞𝐫𝐬.
Our investment team in Ho Chi Minh City meets approximately 60 companies each year, assessing their competitive position, governance, balance-sheet quality and ability to benefit from Vietnam’s long-term development.
And, as an additional benefit, the team can recommend some exceptional destinations beyond the traditional tourist routes.

Have you visited Vietnam? Which developments stood out to you?

https://vietnamnews.vn/life-style/1797642/viet-nam-finds-ways-to-lure-international-tourists.html