VietNam Holding Limited Monthly Investor Report (0363U)
12 January 2017 - 11:46PM
UK Regulatory
TIDMVNH TIDMVNHW
RNS Number : 0363U
VietNam Holding Limited
12 January 2017
VietNam Holding Limited ("VNH" or the "Company")
Monthly Investor Report
A report detailing the activities of the Company for the month
of December 2016 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/investor-reports and a
summary of the report is included below.
Investor Report Summary
The Vietnam All Share Index declined 1.6% in December to 623.2,
thus making the stock market's 2016 full calendar year performance
+7.5% in local currency terms and +6.2% in US dollar terms. Amid
this somewhat tepid year for the market, VNH continued its
multiyear string of annual market outperformances, rising 19.1% in
the year to an NAV per share of USD 2.650. For December alone, the
fund was down 1.5%.
It was a year, broadly speaking, of two parts, with market
performance through September being very positive: the year's VNAS
index peak of 674 occurred in late September, marking at that time
a year-to-date rise of over 16%. But things were tougher towards
the year end, with the hitherto solid dong cracking under the
weight of a rising US dollar.
Of course, 2016 was a year of dramatic global political events
that few predicted, and therefore the outlook as we look forward to
2017 and 2018 is more uncertain than usual.
What we can say, however, is that Vietnamese policy makers, for
the most part, control their own fate. Firstly, although Vietnam is
a very open economy, with exports plus imports equalling some 175%
of GDP, most of Vietnam's exports are likely to see solid progress
based on global market share growth amid long term structural
advantages for the country.
Secondly, Vietnam - compared to most major southeast Asian
economies - remains a place with only a partially opened capital
account, so this stands it in good stead in what could be a fairly
turbulent year for global capital flows.
Thirdly and finally, Vietnamese policy makers have the power to
effect very noticeable improvement in government finances and the
overall business environment. There are still some 700+ state-owned
enterprises in Vietnam, with a historically-accounted total asset
value of some USD 220bn. Privatisation is accelerating.
For more information please contact:
VietNam Holding Asset Management Tel: +41 43 500
Limited 28 10
Investor Relations
Gyentsen Zatul
investorrelations@vnham.com
www.vietnamholding.com
Smith & Williamson Corporate Tel: +44 20 7131
Finance Limited Nominated 4000
Adviser
Azhic Basirov / Ben Jeynes
Winterflood Investment Trusts Tel: +44 20 3100
Broker 0000
Joe Winkley / Neil Langford
Buchanan Communications Tel: +44 20 7466
Financial Public Relations 5000
Charles Ryland / Vicky Hayns
This information is provided by RNS
The company news service from the London Stock Exchange
END
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