Edison issues review on Vietnam Enterprise Inv.
London, UK, 10 September 2021
Edison issues review on Vietnam Enterprise Investments (VEIL)
Throughout its over 25-year history, Vietnam Enterprise Investments (VEIL), the largest and longest-established Vietnamese equities closed-end fund, has seen many economic ups and downs. Despite economic growth being held back by the new wave of the COVID-19 pandemic in H221, investment manager Dragon Capital views the setback as temporary. Expecting better pandemic control from Q421 and with economic growth momentum rebuilding, the team looks to 2022 with cautious optimism. The last quarter of 2019 and most of 2020 marked a period of portfolio repositioning for the fund. VEIL is well positioned for longer-term investors looking for an exposure to the fast-developing Vietnamese economy via a relatively large and liquid listed equities fund.
Before the COVID-19 pandemic, VEIL's team focused the portfolio (reducing the number of holdings from 41 in 2019 to 28 by end-2020) to leverage high conviction holdings and address a dip in short-term performance. We believe VEIL's improved relative performance is likely to continue as the transformed portfolio is overweight in the sectors that could deliver long-term capital growth, including banking, real estate, logistics and retail. In addition, VEIL is well positioned for the economic recovery in Vietnam. Dragon Capital continues to pursue investment opportunities, by investing in listed companies and capturing three mega trends in Vietnam: infrastructure development and urbanisation, middle-class formation and increasing penetration of financial services.
Click here
to view the full report
here
to sign up to receive research as it is published.
All reports published by Edison are available to download free of charge from its website
About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority .
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information please contact Edison:
Victoria Chernykh, +44 (0)20 3077 5700
Sarah Godfrey, +44 (0)20 3681 2519
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 hours ago Marlowe
- 2 hours ago Haleon
- 2 hours ago TUI AG Reg Shs (DI)
- 2 hours ago Georgia Capital
- 3 hours ago Weir Group