Vietnam Enterprise Investments


£1046.7m market cap

480p last close

Vietnam Enterprise Investments objective is to achieve medium- to long-term capital growth by investing in the equity securities of companies primarily operating in, or with significant exposure to, Vietnam. VEIL adopts a bottom-up approach to investment selection and does not set portfolio allocations with reference to index weightings. The VN Index is used as a performance benchmark, which VEIL seeks to outperform on a rolling three-year basis.

Investment summary

Vietnam Enterprise Investments (VEIL) is the largest and longest-established closed-end fund focused on investing in Vietnamese equities. The fund aims to deliver long-term capital growth through employing a rigorous bottom-up approach to investing in a relatively concentrated portfolio of 35–40 high-conviction stocks. Over the past 10 years, VEIL has generated annualised NAV and share price returns of 10.3% and 14.0%, respectively. Better than expected Q319 GDP growth of 7.3% suggests Vietnam’s economy is relatively resilient in an environment of slowing global economic growth, which has been exacerbated by a trade recession triggered by the US-China trade dispute. Furthermore, the manager is finding plenty of exciting long-term investment opportunities in Vietnam.

Share price graph
Price performance
Actual 2.9 (3.6) 5.7
Relative* 1.9 (10.2) (4.7)
52-week high/low 509.0p/421.5p
*% relative to local index
Key management
Nick Ainsworth Chief Marketing Officer
Rachel Hill Investor Relations

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