Reduction of Management Fee

Vietnam Enterprise Investments Ltd

01 December 2023

 

1 December 2023

Vietnam Enterprise Investments Limited
(the "Company")

Reduction of Management Fee

Following a review of the annual management fee, and discussions with the Investment Manager, the Board of Vietnam Enterprise Investments Limited wishes to announce a reduction in the management fee with effect from 1 July 2024.

The management fee is currently calculated and accrued daily on the following basis:

• 1.85% per annum on the first US$1.25 billion of the Company's net asset value ("NAV");

• 1.65% per annum on the portion of the NAV in excess of US$1.25 billion, and less than or equal to US$1.5 billion; and

• 1.5% per annum on the portion of the NAV above US$1.5 billion.

From 1 July 2024, the management fee shall be calculated and accrue daily at a flat rate of 1.5% per annum of the Company's NAV. The Investment Manager is not entitled to a performance fee.

Gordon Lawson, independent non-executive chair of the Company, commented:

"Over more than 28 years, Vietnam Enterprise Investments Limited has offered its investors access to one of the most exciting and dynamic markets in Southeast Asia. Since the inception of the Vietnamese stock market in 2000, VEIL has delivered a 23-year USD net CAGR of 10.76% (Source: Dragon Capital), compared to the MSCI EM Total Return Index's 6.41% over the same period (Source: Bloomberg). This demonstrates that VEIL has provided good value to its long-term holders, and we hope VEIL will continue to deliver value to our investors going forward."

For further information, please contact:

Vietnam Enterprise Investments Limited

Rachel Hill

Phone: [phone]

Mobile: [phone]

[e-mail]                

Jefferies International Limited

Stuart Klein                                                                                          

Phone: [phone]

[e-mail]        

Buchanan

Charles Ryland / Henry Wilson / George Beale

Phone: [phone]

[e-mail]

Radnor Capital Partners

Iain Daly

Phone: [phone]

[e-mail]

LEI: 213800SYT3T4AGEVW864

 

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