14/6/2019

Monthly Investor Report - RNS - London Stock Exchange

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VietNam Holding Limited - VNH Monthly Investor Report

Released 07:30 14-Jun-2019

RNS Number : 1860C

VietNam Holding Limited

14 June 2019

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

Monthly Investor Report

A report detailing the acviŸes of the Company for the month May 2019 has been issued by Dynam Capital Limited, the investment manager of the Company. Electronic copies of the report have been made available to shareholders on the Company's website at hp://www.vietnamholding.com/publicaons/investor-reportsand a summary of the report is included below.

Investor Report Summary

The Fund's NAV per share decreased by 1.2% during May, outperforming the 2.4% decline in the VN All Share (VNAS) Index. However, on a year-to-date basis, the Fund's return of -1.3% is sll below the VNAS which is up 3.1%. Our top three performing stocks were Phu Nhuan Jewelry (10.1% NAV, +2.3%), Century Synthec Fiber (1.8% NAV, +11.5%), and Mobile World (6.1% NAV, +2.3%); the three worst performers were Viet Capital Securies (3.0% NAV, -13.0%), Dat Xanh (2.9% NAV, -14.8%) and Thien Long (4.8% NAV, -7.5%).

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VNH/14111125.html

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14/6/2019Monthly Investor Report - RNS - London Stock Exchange

Cash increased to 8.4% NAV as we completed an exit from VP Bank, focusing the Fund's Bank exposure around Military Bank (MBB). The por}olio is currently concentrated around 22 posions, and we are adding to a few exisng posions where our convic]on levels are increasing and we are in due diligence on a new potenal addion to the por}olio in the logiscs space.

President Trump's imposions of higher tariffs on Chinese goods plays well to Vietnam's manufacturing strengths. Vietnam is increasing its level of exports to the US (up 28% year-on-year) and levels of registered FDI in Vietnam are growing strongly. There was an overall trade deficit for the year to date of USD0.5 bn, and a slight decrease in value of the Vietnam Dong against the USD.

There is much talk about when, and if, Vietnam will lose the Froner Market label and have its stocks included in the MSCI Emerging Market Index. The journey to MSCI EM status may be more relevant than the desnaon itself, as improved transparency, reduced foreign limits and other regulatory innovaons level the playing field and benefit all investors. There are innovaons on the way, and in June it is expected that covered warrants, inivally on a few stocks only, will be introduced to the market. As the The Economist (Buµonwood, May 25th) reminds us, if you are seeking exposure to economic development you need to be creave and look at less liquid stocks outside the index, which is where the Fund is focused.

For more informaon please contact:

Dynam Capital Limited

Craig Marn

Tel: +84 28 3827 7590

info@dynamcapital.com|www.dynamcapital.com

www.vietnamholding.com

finnCap

Nominated Adviser and Corporate Broker

Tel: +44 20 7220 0500

William Marle / Giles Rolls

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VNH/14111125.html

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14/6/2019

Monthly Investor Report - RNS - London Stock Exchange

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Monthly Investor Report - RNS

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Vietnam Holding Ltd. published this content on 14 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2019 10:23:01 UTC