Edison update on Vietnam Enterprise Investments

RNS Number : 1432B

Vietnam Enterprise Investments Ltd

29 September 2022

 

London, UK, 29 September 2022

Edison issues update on Vietnam Enterprise Investments (VEIL)

Vietnam Enterprise Investments (VEIL) is the largest and oldest Vietnamese equities closed-end fund listed on the London Stock Exchange. The fund is positioned to capitalise on Vietnam's very positive long-term growth prospects. Its long track record of outperformance of both its benchmark and its peers attests to the effectiveness of its stock selection process. Manager Dien Vu and his colleagues are confident in their ability to continue identifying those companies best placed to benefit from Vietnam's vibrant growth story, and they see the recent market pull-back as an opportunity for investors to gain exposure to this market at particularly attractive levels.

VEIL's strong absolute and relative performance compared to both its benchmark and its peers is likely to appeal to investors. As well as realising its objective of outperforming the benchmark on a rolling three-year basis, the fund has made average annualised returns of 19.8% on an NAV basis, and 18.9% on a share price basis over the 10 years to end-August 2022, compared to a benchmark return of 12.5%. Investors may also be attracted by the fact that VEIL's share price is currently trading at a 21.1% discount to its NAV. This is well above its historical average, which appears unjustified given the fund's performance track record. We see scope for the discount to narrow once recent market jitters subside. 

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