VIETNAM ENTERPRISE INVESTMENTS LIMITED FUND PERFORMANCE REPORT
Performance Data From 12 October 2023 - 19 October 2023
VIETNAM ENTERPRISE INVESTMENTS LIMITED - VEIL | Release Date: 26 October 2023 |
FUND INFORMATION
NAV | NAV/ | NAV CHANGE | PRICE CHANGE | PREMIUM/ | ||||||
(%) | *PRICE | (%) | ||||||||
(m) | SHARE | (DISCOUNT) (%) | ||||||||
WEEKLY | YTD | WEEKLY | YTD | |||||||
USD | 1,659.65 | 8.20 | -6.50 | 4.46 | - | -6.80 | -6.13 | (19.70) | ||
GBP | 1,366.76 | 6.75 | -5.99 | 3.37 | 5.42 | -6.23 | -7.03 | |||
ISSUED SHARES
202,396,657
*Note: We now use the End-Of-Day Price for Price-change (%) calculation instead of using the average price between BID and ASK.
TOP 80 VALUATION | INDEX PERFORMANCE | ||||||||||||||||||||||||
19 October 2023 | 2021 | 2022 | 2023E | 2024F 12 Oct 2023 - 19 Oct 2023 | HOSE | HNX | VN30 | ||||||||||||||||||
P/E Ratio (x) | 14.50 | 9.10 | 10.30 | 8.40 Index (19 October 2023) | 1.087.85 | 223.45 | 1,104.89 | ||||||||||||||||||
EPS Growth (%) | 37.10 | -1.40 | 3.10 | 23.10 | Weekly Change (USD - %) | -5.95 | -6.71 | -5.62 | |||||||||||||||||
PEG Ratio (x) | 0.40 | 0.00 | 3.40 | 0.40 | YTD Change (USD - %) | 5.31 | 6.39 | 7.39 | |||||||||||||||||
Sales Growth (%) | 22.00 | 12.30 | 3.00 | 13.00 | Market Cap (USDbn) | 177.50 | 12.20 | 127.20 | |||||||||||||||||
EBIT Growth (%) | 50.80 | 2.50 | 9.90 | 22.20 Daily Average Volume (Shs m) | 659.73 | 99.50 | 191.39 | ||||||||||||||||||
PBT Growth (%) | 38.00 | 1.50 | 3.30 | 23.30 Daily Average Value (USDm) | 630.34 | 85.10 | 234.46 | ||||||||||||||||||
NPAT Growth (%) | 41.90 | 0.00 | 3.50 | 23.10 | No. of Stocks Up | 43 | 53 | 1 | |||||||||||||||||
Net DER (x) | 0.30 | 0.30 | 0.20 | 0.20 | No. of Stocks Down | 331 | 202 | 28 | |||||||||||||||||
Yield (%) | 1.00 | 1.90 | 1.40 | 1.40 | No. of Stocks Unchanged | 20 | 75 | 1 | |||||||||||||||||
FX Rate (USD/VND) | 24,565 | ||||||||||||||||||||||||
FX Rate YTD Change (%) | 3.94 | ||||||||||||||||||||||||
VN INDEX INFORMATION | |||||||||||||||||||||||||
VNI ROLLING 3-YEAR PERFORMANCE | |||||||||||||||||||||||||
US$m | |||||||||||||||||||||||||
2,500 | 1,600 | ||||||||||||||||||||||||
2,000 | Volume | VN Index | 1,400 | ||||||||||||||||||||||
1,500 | 1,200 | ||||||||||||||||||||||||
1,000 | 1,000 | ||||||||||||||||||||||||
500 | 800 | ||||||||||||||||||||||||
0 | 600 | ||||||||||||||||||||||||
Oct-20 | Apr-21 | Oct-21 | Apr-22 | Oct-22 | Apr-23 | Oct-23 | |||||||||||||||||||
VNI SECTOR WEIGHTS (%) | VNI SECTOR RETURN CONTRIBUTION (%) | ||||||||||||||||||||||||
0 | 5 | 10 | 15 | 20 | 25 | 30 | 35 | 40 | -1.50 | -0.75 | 0.00 | 0.75 | 1.50 | ||||||||||||
37.45 | Banks | -1.37 | |||||||||||||||||||||||
-1.47 | |||||||||||||||||||||||||
16.92 | Real Estate | ||||||||||||||||||||||||
6.97 | Food/Beverage | -0.38 | |||||||||||||||||||||||
6.38 | Materials & Resource | -0.55 | |||||||||||||||||||||||
6.02 | Energy | -0.29 | |||||||||||||||||||||||
6.02 | Diversif Financials | -0.72 | |||||||||||||||||||||||
5.57 | Others | -0.33 | |||||||||||||||||||||||
3.99 | Capital Goods | -0.24 | |||||||||||||||||||||||
3.82 | Transportation | -0.04 | |||||||||||||||||||||||
2.71 | Software & Services | -0.13 | |||||||||||||||||||||||
1.83 | Utilities | -0.08 | |||||||||||||||||||||||
1.72 | Retail | -0.18 | |||||||||||||||||||||||
ENQUIRIES | PRICE PROVIDER |
Dragon Capital | Jefferies | |
veil@dragoncapital.com | +84 28 3823 9355 | Michele White/ Trevor Hunt +44 207 898 7127 |
This document has been prepared and is distributed by Dragon Capital Management (HK) Limited for the information of existing investors, and other eligible recipients. This update has been provided to you following your express request to be included in such distributions, and your confirmation of eligibility. If you wish to unsubscribe from future updates at any time, please email unsubscribe@dragoncapital.com.
This document does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of any entity, or any vehicle to be incorporated in connection with any possible transaction, or an inducement to enter into investment activity in any country, or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of the document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.
No disclosure, reference or other information included in this document shall be considered as offering or solicitation of any product or service. Nothing in this document shall be construed as investment advice or a recommendation to acquire or invest in any securities or other instrument or financial product. Any investment performance and market information provided in this presentation, including information about any particular companies, are provided for illustrative purposes only and are not investment recommendations.
No person is promulgating or providing any financial or other advice to any person, and is not making and does not intend to make an offer or solicitation in relation to any product, whether referred to in this document or otherwise. Any person requiring investment advice should consult a suitably qualified professional adviser prior to taking any investment decision.
The information contained in this document is subject to updating, and the accuracy, certainty or completeness of such information is not guaranteed. No representation or warranty, express or implied, is made, and no liability whatsoever is accepted by any other person, in relation thereto.
This document must not be distributed or otherwise made available to third parties without the consent of Dragon Capital, and then only to such recipients who have confirmed that distribution of such information is in compliance with all securities laws and regulations which apply to them.
For UK investors in VEIL: According to an analysis performed on behalf of VEIL by KPMG, VEIL does not meet the definition of an "offshore fund" for the purposes of the Offshore Fund Regulations in the UK. On the basis of this analysis, the Offshore Fund Regulations do not apply to VEIL, and therefore the reporting fund status regime is not relevant to VEIL or its UK investors. Please contact us if you require the full analysis
from KPMG. | © Dragon Capital 2023 |
DRAGON CAPITAL MARKETS LIMITED
c/o 1501 Me Linh Point,
2 Ngo Duc Ke, District 1, Ho Chi Minh City, Vietnam
T +84 28 3823 9355
F +84 28 3823 9366 www.veil-dragoncapital.com
1
FUND PERFORMANCE REPORT
Performance Data From 12 October 2023 - 19 October 2023
VIETNAM ENTERPRISE INVESTMENTS LIMITED - VEIL | Release Date: 26 October 2023 |
INVESTMENT OBJECTIVE AND STRATEGY
VEIL's objective is to seek medium to long term capital appreciation of its assets. Investment criteria are attractive growth and value metrics, good corporate governance, and alignment with Vietnam's underlying growth drivers. VEIL maintains a broad universe, which includes companies operating and/or listed outside of Vietnam, and it looks to outperform the VN Index on a rolling three-year basis.
PERFORMANCE (All in USD) | FUND INFORMATION | |||||||||||
YEARLY (%) | YTD | 2022 | 2021 | 2020 | 2019 | 2018 | Structure | Cayman registered closed-end fund | ||||
VEIL | 4.46 | -35.71 | 47.10 | 22.78 | 3.05 | -7.08 | Listed | London Stock Exchange | ||||
VN Index | 5.31 | -34.07 | 39.00 | 17.39 | 9.88 | -9.45 | Inception Date | 11 August 1995 | ||||
Total Net Asset Value | US$1,659.65m | |||||||||||
NAV Frequency | Daily | |||||||||||
ROLLING (%) | 1W | YTD | 1YR | 3YR | 5YR | With effect from 1 July 2021, the management fee will | ||||||
be amended to 1.85% per annum of Net Asset Value | ||||||||||||
Management Fee | ("NAV") for the first US$1.25 billion of the Company's | |||||||||||
Share Price | -6.80 | -6.13 | 1.39 | 7.69 | 9.85 | NAV, reducing to 1.65% per annum for NAV between | ||||||
US$1.25 billion and US$1.5 billion and further reducing | ||||||||||||
NAV | -6.50 | 4.46 | 4.19 | 15.98 | 21.66 | to 1.50% per annum for NAV above US$1.5 billion. | ||||||
VN Index (HOSE) | -5.95 | 5.31 | 3.93 | 13.80 | 17.00 | Administrator & Custodian | Standard Chartered Bank | |||||
MSCI EM Index | -3.31 | -2.67 | 7.49 | -17.43 | -4.19 | ISIN | KYG9361H1092 | |||||
VN30 Index | -5.62 | 7.39 | 6.20 | 19.63 | 19.81 | SEDOL | BD9X204 | |||||
CUSIP | G9361H109 | |||||||||||
TOP 10 | TICKER SECTOR | NAV(%) | Bloomberg | VEIL LN | ||||||||
1 | VPBank | VPB | Banks | 11.49 | Reuters | LP60078461 | ||||||
2 | Hoa Phat Group | HPG | Materials/Resources | 8.34 | Legal Entity Identifier (LEI) | 213800SYT3T4AGEVW864 | ||||||
3 | ACB | ACB | Banks | 7.90 | DEALING | |||||||
4 | Vietcombank | VCB | Banks | 7.83 | Trading | Traded on the London Stock Exchange | ||||||
5 | FPT Corporate | FPT | Software/Services | 6.08 | Clearing | CREST | ||||||
6 | Mobile World | MWG | Retail | 5.39 | Jefferies International Limited | |||||||
7 | PV Gas | GAS | Energy | 4.22 | Settlement | CREST Participant ID: 393 (UK Equity) | ||||||
BIC Code: JEFFGB2X | ||||||||||||
8 | Vinhomes | VHM | Real Estate | 3.94 | Quotation | Daily in Financial Times/LSE direct feed VEIL LN | ||||||
9 | Vinamilk | VNM | F & B | 3.45 | Information specific to UK investors in VEIL: Based on analysis undertaken | |||||||
on behalf of the fund by KPMG, they state that they consider that VEIL does | ||||||||||||
10 Khang Dien House | KDH | Real Estate | 3.23 | not meet the definition of an "offshore fund" for the purposes of the Off- | ||||||||
shore Fund Regulations in the UK. On the basis of the Offshore Fund Regu- | ||||||||||||
Total | 61.87 | lations do not apply to VEIL and therefore the reporting fund status regime | ||||||||||
is not relevant to the fund or its UK investors. Please contact a member of | ||||||||||||
the Marketing/ Investor Relations if you require the full report from KPMG. | ||||||||||||
FUND PERFORMANCE | ||||||||||||
100 | ||||||||||||
VEIL - USD (NAV) | VN Index - USD | VN30 - USD | ||||||||||
80 | ||||||||||||
60 | ||||||||||||
40 | ||||||||||||
20 | ||||||||||||
0 | ||||||||||||
-20 | ||||||||||||
Oct-20 | Apr-21 | Oct-21 | Apr-22 | Oct-22 | Apr-23 | Oct-23 | ||||||
ENQUIRIES | PRICE PROVIDER |
Dragon Capital | Jefferies | |
veil@dragoncapital.com | +84 28 3823 9355 | Michele White/ Trevor Hunt +44 207 898 7127 |
This document has been prepared and is distributed by Dragon Capital Management (HK) Limited for the information of existing investors, and other eligible recipients. This update has been provided to you following your express request to be included in such distributions, and your confirmation of eligibility. If you wish to unsubscribe from future updates at any time, please email unsubscribe@dragoncapital.com.
This document does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of any entity, or any vehicle to be incorporated in connection with any possible transaction, or an inducement to enter into investment activity in any country, or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of the document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.
No disclosure, reference or other information included in this document shall be considered as offering or solicitation of any product or service. Nothing in this document shall be construed as investment advice or a recommendation to acquire or invest in any securities or other instrument or financial product. Any investment performance and market information provided in this presentation, including information about any particular companies, are provided for illustrative purposes only and are not investment recommendations.
No person is promulgating or providing any financial or other advice to any person, and is not making and does not intend to make an offer or solicitation in relation to any product, whether referred to in this document or otherwise. Any person requiring investment advice should consult a suitably qualified professional adviser prior to taking any investment decision.
The information contained in this document is subject to updating, and the accuracy, certainty or completeness of such information is not guaranteed. No representation or warranty, express or implied, is made, and no liability whatsoever is accepted by any other person, in relation thereto.
This document must not be distributed or otherwise made available to third parties without the consent of Dragon Capital, and then only to such recipients who have confirmed that distribution of such information is in compliance with all securities laws and regulations which apply to them.
For UK investors in VEIL: According to an analysis performed on behalf of VEIL by KPMG, VEIL does not meet the definition of an "offshore fund" for the purposes of the Offshore Fund Regulations in the UK. On the basis of this analysis, the Offshore Fund Regulations do not apply to VEIL, and therefore the reporting fund status regime is not relevant to VEIL or its UK investors. Please contact us if you require the full analysis
from KPMG. | © Dragon Capital 2023 |
DRAGON CAPITAL MARKETS LIMITED
c/o 1501 Me Linh Point,
2 Ngo Duc Ke, District 1, Ho Chi Minh City, Vietnam
T +84 28 3823 9355
F +84 28 3823 9366 www.veil-dragoncapital.com
2
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Vietnam Enterprise Investments Limited published this content on 19 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2023 06:16:43 UTC.
