Monthly Investor Report

RNS Number : 4965Y

VietNam Holding Limited

17 May 2016

 

VietNam Holding Limited ("VNH" or the "Company")

Monthly Investor Report

A report detailing the activities of the Company for the month of April 2016 has been issued by VietNam Holding Asset Management Limited, the investment manager of the Company. Electronic copies of the report have been made available to shareholders on the Company's website at http://www.vietnamholding.com/publications/investor-reports and a summary of the report is included below.

Investor Report Summary

Vietnam News

April was a good month for Vietnam, with the Vietnam All Share Index rising 4.7%, leaving it up 3% in the calendar year to date. The currency remains stable, up just under 1% year to date versus the dollar. By comparison the MSCI emerging and frontier indexes are both up some 6% year to date.

Despite the El Niño-induced downbeat first quarter GDP growth figure of 5.5%, most indicators for the Vietnamese macro-economy remain very positive. The year to date trade surplus as of mid-April is some USD 1.5bn, with good growth in exports of the higher-end items like mobile phones and machinery of over 20% and 15% respectively. Banking sector loan growth appears likely to hit the high teens for the second straight year.

VNH Insights

VNH's NAV per share rose 2.0% on the month and is up 5.3% year to date at USD 2.351. Amid the above mentioned buoyant growth in Vietnam, there are plenty of stocks for us to consider as beneficiaries, but there is also the reminder that growth does not necessarily mean profit.

Some day before 2020 Vietnam will most likely join the MSCI emerging markets index, unleashing a new wave of investment funds to its stock market. Rather than day-dreaming on that thought, the authorities in Vietnam will hopefully concentrate on a key fundamental: privatize significant stakes in the biggest and best state owned enterprises. This will lift Vietnam to emerging market status more than any other single factor.

For more information please contact:

VietNam Holding Asset Management Limited	Tel: [phone]
Investor Relations Gyentsen Zatul [e-mail] www.vietnamholding.com
Smith & Williamson Corporate Finance Limited Nominated Adviser	Tel: [phone]
Azhic Basirov / Ben Jeynes
Winterflood Investment Trusts Broker	Tel: [phone]
Joe Winkley / Neil Langford
Buchanan Communications Financial Public Relations	Tel: [phone]
Charles Ryland / Vicky Watkins

 

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