We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vietnam Holding Limited | VNH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.00 | 0.55% | 367.00 | 10:27:06 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 366.00 | 365.00 | 367.00 | 367.00 | 365.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 22/3/2024 14:34 by aleman From the interims:It is worth noting that the Fund has the narrowest discount of the three London-listed Vietnam focused funds. Over the last twelve months the discount was at an average of 13.3% versus 17% for its peers. At the end of December, the discount was 7.7%, versus an average of 19.5% for peers. I believe the narrower discount is partly a reflection of the innovative redemption facility that was proposed to shareholders in November and unanimously approved in December. Starting this September, shareholders will have the option to redeem shares on an annual basis at NAV[1]. Of course, investors are also free to buy and sell shares in the market at any time. |
Posted at 15/12/2023 08:36 by spangle93 Monthly summaryVNH's NAV rose 12.7% in November, outperforming VNAS (+9.0%). Year to date the fund is the top-performing Fund in Vietnam, with the discount to NAV the narrowest of the three London-listed Vietnam funds. |
Posted at 11/12/2023 07:17 by spangle93 Investor Webinar this week"VietNam Holding Limited is pleased to announce that Dynam Capital, the fund manager of VNH, will be hosting a live online investor presentation on Wednesday, 13 December 2023 at 10 AM UK time. The presentation is open to all, and the Company welcomes the interaction with shareholders. It will be designed to provide a greater understanding of Vietnam's economic progress, the strategy of the fund, its investment processes, its ESG approach, performance and the outlook for 2024. The webinar will also allow for questions regarding the upcoming AGM. |
Posted at 24/9/2023 21:12 by sharesoc ShareSoc is hosting a webinar with VietNam Holding Limited (VNH) on 17 October 2023, which may be of interest to current and potential investors. Craig Martin (Executive Chairman of Dynam Capital – Fund manager of VNH) will be presenting. You can register here: [...] |
Posted at 15/2/2023 07:45 by spangle93 Monthly investor report sounding upbeatVNH's NAV was +11.1% for the month, slightly lower than the index. This followed the Fund's outperformance of the Vietnam All Shares Index (VNAS) for the 2022 calendar year, with its NAV declining 30.1% versus the VNAS' decline of 39.8%. Strong double-digit growth in Retail stood out in 2022, and we expected that to continue in the lead up to Tet. In January, VNH benefitted from its overweight in outperforming banks, STB, ACB and MBB, as well as its underweight in Real Estate, keeping to our conviction that banks were oversold in 2022 and that real estate companies would face increasing headwinds due to the lagging impacts of rising interest rates. The Fund's overweight in Industrials - IDC (up +28.4%) and GMD (up +17.7%) - along with its continued convicted positions in Telecoms and Retails, also all paid off. We feel optimistic about a more stable VND in 2023 as external and internal risks have reduced, but also expect divergence of EPS growth among sectors and stocks to increase. Additionally, on top of very attractive valuations, market liquidity also continues to move in the right direction following the indiscriminate selloffs and short-term shocks of 2022. Foreign investors net bought US$ 179m in January and we saw a comeback of both foreign and local participants in the equity market. As with several ASEAN countries, Vietnam is kicking off 2023 in a strong position to outstand the rest of the world in terms of GDP growth - forecasted at 6.5% for the year. |
Posted at 17/1/2023 07:32 by spangle93 Monthly summary to the end of December is full of extreme descriptions, but this is a flavourFull year net buying ended up making the US$1bn mark, a first since 2019. While we expect local indices to consolidate in this current environment of monetary tightening and wait-and-see sentiment, it is times like these when rare opportunities for the long-term arise, particularly given the attractive valuation levels of Vietnamese stocks and consensus view that corporate earnings growth is more than 10%. Positive outlook from the manager for the year of the Cat, starting 22-Jan |
Posted at 15/5/2022 22:25 by melloteam Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF) Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies (Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50). Just to let shareholders and prospective investors know that VIETNAM HOLDINGS will be among the Trusts and Funds attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams. For more information, please visit the event webpage: |
Posted at 13/12/2021 09:35 by davebowler Vietnam Holding Limited (VNH) Investor Report – November 2021Santa in Saigon Vietnam’s vaccination rollout has come a long way over the past month. By early December, 75% of the adult population had received the first jab and 56% the second, giving both businesses and Christmas shoppers a good reason for feeling festive. Vietnam caught up quickly with Western nations, having already started vaccinating children in early November and therefore helping to contain the superspreading in schools seen all over the world. Then, despite the emergence of Omicron, just as the country was reopening and dealing with the detriments of the Delta variant, LEGO, the iconic Danish toy manufacturer, gave the country another excuse for getting into the spirit by announcing that it intends to invest US$1bn in building a carbon neutral factory with the Vietnam-Singapore Industrial Park Joint Stock Company in the southern Binh Duong province. According to the Danish Ambassador to Vietnam, this is the largest investment ever in Vietnam by a Danish company and shows the confidence and optimism of Danish investors in the relationship between the two countries. In our view, it also underlines the attraction of future foreign investment in Vietnam, given the government’s facilitation of trade and international integration, on top of the country’s abundant workforce and geographical location. The Fund’s NAV was up +3.1% in November, underperforming the VNAS by 0.8%, reflecting a diverse range of performance among its positions as the equity market reached a new peak. Financial services outperformed and VNH benefited from its overweight in brokerage firms, including VND (+38.8%). The brokerage sector is expected to benefit from further development of equity and bond markets. VND is well-placed to reap the opportunities having raised its capital this year. The market was driven mostly by local retail investors throughout the month with a record number of new accounts opened (over 200,000) and with speculative money flowing into mid-cap stocks. We viewed this as an opportunity to rebalance the portfolio starting with taking profits on some positions, such as NLG, after a strong rally. We also reduced our holding in HPG to below 3%, taking a profit from its stellar performance in 2021 and minimising our commodity risk considering worldwide inflationary rises and the fact that its stock price is highly correlated to the global price of steel. With the new layer of uncertainty surrounding Omicron, we decreased our position in retail stock PNJ as well since, despite the seasonal uptick, spending has not fully recovered from the Q3 lockdowns. In terms of additions, we selectively increased some of our holdings in anticipation of a recovery in earnings growth in the new year. The Fund has been and remains one of the top three investment trusts listed on the London Stock Exchange in terms of performance year to date, and this can be attributed to how both the Vietnamese markets have weathered the ongoing Covid-19 disruptions and how we exercised our high-conviction stock selection and nimbleness. Looking ahead, monetary and fiscal policy will be making an increasingly bigger impact as the world learns to live with Covid-19 variants and the digital and societal transitions that the pandemic has accelerated. Controlled inflation and a stable property market will continue to support easing polices in Vietnam, but we also believe public investment and policy will play an integral role in how its economy fares in 2022 and 2023. We will be engaging with our portfolio companies more in this context, ensuring they adopt new compliance and IFRS accounting standards as well as helping to promote more collective action on addressing environmental, social and governance issues in the country’s future and its commitment to net-zero. We thank you all for your support during this remarkable year for the Fund and wish you all a safe and happy Christmas and a prosperous New Year. FULL REPORT Dynam Capital, Limited www.dynamcapital.com |
Posted at 11/10/2021 08:54 by davebowler New report-Vietnam Holding Limited (VNH) Investor Report – September 2021 The Rise of the Retail Investor Vietnam’s economy was hit hard by strict lockdowns in September, with manufacturing falling significantly for the second month running and GDP Q3/2021 growth down -6.2% YoY. Foreign investors were selling throughout the month, nevertheless, leading stocks in the consumption sector performed strongly, with MWG, one of the Fund’s largest holdings, posting impressive returns as the modern retail trend in Vietnam continues to strengthen despite the Delta variant’s economic dents in Q3. VNH was the top performing fund for the first nine months of 2021, beating the VN Index by 24% and outperforming its peers. Its NAV was up +3.3 for September with other top positive contributors DGW, HPG and VPB faring well. Both DGW (Digiworld), the country’s leading ICT distributer, and HPG, Vietnam’s top steel maker, continued to benefit from rising demand throughout the pandemic. VPB will receive proceeds from selling its stake in the finance company FE Credit and we expect it could become the biggest private bank in Vietnam in terms of capital given its senior management’s long-term strategy. It has been an extraordinary year for Vietnam’s benchmark stock index, which having gained around 23% since the start of 2021 is this year’s top-performing market in the Asia-Pacific region. As noted in the Fund’s recent annual report, VNH’s 15th anniversary this year coincided with an unprecedented escalation in domestic investor activity. To put this into more context, the market value of publicly traded companies in Vietnam is now close to USD 300bn, up from USD 2bn in 2006, when investment funds, such as VNH, commenced their activity. As a result, the stock market has created additional wealth and income for the many new domestic investors in the country, and longer-term investors, such as those who invest in VNH, have also seen compound average returns of more than 15% per annum over the last decade. Also, as part of our rigorous market analysis, we recently commissioned an independent research firm to conduct a first of its kind survey on the sentiment and behaviour of the growing retail investment base in Vietnam, and the findings paint a more upbeat picture of what is to come in the last quarter of 2021 as vaccinations pick up pace and lockdown restrictions are gradually lifted. Carried out in the month of August, the survey captures the changing nature of Vietnam’s retail investment market, namely how these investors have emerged as a decisive buying force by allocating their money in selective stocks more than in traditional assets, such as gold. Since Covid-19 struck and working from home became the new norm, this investor base has grown to an estimated four million trading accounts, around 3% of the country’s population, which is remarkably more than in the UK and similar to Taiwan’s figure in 1986 when the market there went on to experience decades-long stock market surge. Of the survey’s 425 respondents, 79% recorded strong gains in the past year and 59% said they feel optimistic about the market going up more than 5% in the final months of 2021 suggesting optimistic outlooks despite the Delta variant’s paralysing effect on trade in the past two months. Vietnam Holding published its annual report on 1st October (available on the VNH website) and has announced that the Annual General Meeting will be held 10.00 a.m. (UK) on Monday, 1 November 2021 at the offices of FIM Capital Limited, 55 Athol Street, Douglas, Isle of Man, IM1 1LA. The AGM will be followed by an Investor Update Webinar at 10.30 a.m which will be recorded. Registration for the webinar can be made at this link. |
Posted at 14/9/2021 11:01 by davebowler Vietnam Holding Limited (VNH) Investor Report – August 2021Tough Times for Urbanistas The streets of Ho Chi Minh City and surrounding provinces became subdued during the month of August as rising Delta variant cases spread across much of Southeast Asia, significantly dampening Vietnam’s economic activities in the short-term. A strict lockdown, working-from-home and factory closures squeezed Vietnam’s manufacturing sector and caused a new level of domestic disruption in the global supply chains that have been driving its extraordinary export-led growth even in 2020 when most countries endured record recessions. Nevertheless, the sense of community and social responsibility underpinning Vietnam’s handling of the virus throughout the pandemic demonstrated once again why the country continues to stand out during these turbulent times. The Economist’s recent article, ‘The economy that Covid-19 could not stop’ discussed Vietnam’s unrivalled resiliency in this respect by putting its success story into context whilst also pointing out how “its successful diaspora” makes the country one of the largest recipients of remittances in the world with US$20bn flowing in last year, equivalent to 7% of GDP. Despite the Delta variant’s dent on exports and retail sales, the Fund was up +1.9% for the month, led partly by our profit-taking in the banking sector which had rallied in the last few quarters but has since become more uncertain in the short-term given the bad debts building up in some loan portfolios. Our overweight in brokerage firms was also a positive contributor. Being able to trade from home, domestic retail investors became even more active with daily trading volumes hitting US$1.5 bn per day, five times the levels in 2019. We expect the brokerage sector to continue to outperform given positive developments in the equity market, with high market liquidity and lower funding cost for margin lending activities. The Fund’s NAV is up 42.6% this year, leading the pack of Vietnam focussed funds. Urbanisation is one of the key themes of our investment strategy and the communal mindset of Vietnamese citizens provides us with unmissable opportunities as responsible investors with well-defined environmental, social and governance selection criteria. The scenes in Vietnam’s cities are unique, for example, with the military efforts in distributing food to those in need rather than quelling unhappy crowds in other parts of SE Asia. Ironically, in commemorating International Clean Air Day in early September, our own ESG manager recalled a national survey about working from home to help reduce global warming before anyone ever heard of Covid-19 or thought about such a disruption forcing remote working. The notion was unpopular at the time, but we have seen the population embrace the Covid-19 situation by looking for ways to turn it into opportunities to pull together and build back better. August saw a sharp contraction in industrial production, and a large drop in retail sales and yet The World Bank’s latest forecasts for Vietnam expect an overall expansion of 4.8% for 2021 and we remain optimistic for the long-term. By early September the number of Covid-19 cases had risen to more than 572,000, with 15,000 deaths. Although the vaccination rollout has not been as swift as in the West, tremendous progress was underway by early September, especially in HCMC where close to 90% of the adult population had received at least one jab. In addition, vaccination rates are increasing at a faster pace in other areas of the country as more jabs become available. Several provinces have started to ease restrictions, as a result, allowing economic activities to resume and negative impacts eventually wane. At the EGM on 31st August 2021 shareholders approved the Market Purchase of 30% of the Fund’s shares pursuant to the Tender Offer announced on 3rd August. The Tender price of US$4.4528 per share was announced on 7th September. The 31st August NAV includes sufficient cash to fund the Tender. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
