Edison initiation: Vietnam Enterprise Investments

RNS Number : 0266M

Vietnam Enterprise Investments Ltd

25 July 2017

 

London, UK, 25 July 2017

Edison issues initiation on Vietnam Enterprise Investments (VEIL)

Vietnam Enterprise Investments (VEIL) is a specialist actively-managed, closed-ended investment company that is the largest and longest established fund focused on Vietnam-listed equities. Launched in 1995, it moved its listing to the LSE in July 2016 and has been included in the FTSE 250 Index since 18 July 2017. VEIL's well-resourced investment team adopts a rigorous, bottom-up approach, aiming to achieve capital growth from a portfolio that typically comprises 35 to 40 holdings. Absolute performance has been notably strong over one year and VEIL's NAV total return has outperformed its VN Index benchmark over one, three, five and 10 years. The manager believes Vietnam's stock market valuation is compelling and expects a number of attractive near-term opportunities to arise from the strong pipeline of prospective new listings and placings.

VEIL's share price discount to NAV has largely stayed within a 15% to 20% range over the last three years. However, recent narrowing has taken the discount to a five-year low. The current 10.6% discount compares to its 18.4% five-year average.  

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