Monthly Investor Report

RNS Number : 9277P

VietNam Holding Limited

11 June 2015

 



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

Monthly Investor Report

A report detailing the activities of the Company for the month of May 2015 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 and a summary of the report is included below.

Investor Report Summary

Vietnam News

The VNAS index rose 2.7% in May to 554.9, which in dollar terms was a 1.7% rise after the second 1% devaluation of the year took place during the month. This was a relatively good performance in the context of a 4.6% monthly fall for the MSCI Frontier Emerging Market Index and a flat MSCI World. Economic momentum has remained robust, with continued strong data releases suggesting that second quarter GDP growth will likely better the 6.0% reported for both full year 2014 and first quarter 2015. First quarter corporate results have generally been good. Banking sector credit growth is estimated to have been 4.5% year-to-date to 31 May, an encouraging figure compared to recent years.         

VNH Insights

VNH's NAV remained unchanged from last month at USD 2.045, putting the calendar year-to-date performance at -0.6%, versus a flat YTD performance for the VNAS. We remain of the opinion that the outlook for the fund and the overall market is brighter for the remainder of 2015 and into 2016. This assessment is based on the improving growth outlook across multiple sectors of the stock market, including manufacturing, property, and banking, together with still-modest valuations - starting with a trailing price-earnings ratio of 12.1x for the VNAS Index.

For more information please contact:

VietNam Holding Asset Management Limited	Tel: [phone]
Gyentsen Zatul - Investor Relations [e-mail] www.vietnamholding.com
Altium Capital Limited (Nominated Adviser)	Tel: [phone]
Tim Richardson
Winterflood Investment Trusts (Broker)	Tel: [phone]
Joe Winkley / Neil Langford
Buchanan Communications	Tel: [phone]
Charles Ryland / Sophie McNulty

 

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