leadf
logo-loader
viewVietnam Holding

Vietnam Holding reports NAV rise in October

The closed-end fund reported that as of October 31 its net asset value stood at 206p per share, a 3% rise month-on-month and ahead of the 2.8% rise for the Vietnam All Share Index

Vietnam Holding - Vietnam Holding reports NAV rise in October

Vietnam Holding Ltd (LON:VNH) has issued a report for the performance of the fund over the month of October, following an activities report issued last week by its investment manager, Dynam Capital Limited.

The closed-end fund reported that as of October 31 its net asset value (NAV) stood at 206p per share, a 3% rise month-on-month and ahead of the 2.8% rise for the Vietnam All Share Index (VNAS).

READ: VietNam Holding posts Monthly Investor Report detailing the activities of the company for October 2020

The company highlighted what it said was a “significant contribution” from steel producer Hoa Phat Group, which grew 15.8% in the period and comprises 9.6% of the total NAV. The fund’s largest investment, IT firm FPT Group, which comprises 9.7% of NAV, grew 3%.

Vietnam attributed its performance ahead of the VNAS to overweight holdings in selective companies across the industrial, retail, banking and telecommunications, adding that its holding in Vietin Bank is “well-positioned for further growth” given an amended government law on the investment and management of state capital, which allows the country’s largest banks to expand their business activities.

Looking ahead, the fund said Vietnam’s resiliency during the pandemic through the coronavirus pandemic had “helped raise its profile as a major trade partner” and expected trade relations with the country and other nations to “gain further momentum”. The group also anticipated that the country’s economy will return to an expansion rate above 6% next year given its “multiple engines of growth”.

Shares in Vietnam Holding were up 0.3% at 155p in late-afternoon trading on Monday, a 25% discount to the company’s NAV.

Quick facts: Vietnam Holding

Price: 171 GBX

LSE:VNH
Market: LSE
Market Cap: £73.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Vietnam Holding named herein, including the promotion by the Company of Vietnam Holding in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Vietnam Holding's says RCEP trade agreement 'accelerates Vietnam's growth story'

VietNam Holding Limited's (LON:VNH) Craig Martin talks to Proactive London's Katie Pilbeam about The Regional Comprehensive Economic Partnership, or RCEP, which involves Vietnam. 15 Asia-Pacific nations are involved in what is one of the biggest trade deals in history. Martin believes RCEP...

1 week, 6 days ago

2 min read