London, UK, 3 August 2023

Edison issues flash on Vietnam Enterprise Investment (VEIL)

Vietnam Enterprise Investments is the UK's largest and oldest listed Vietnamese equities closed-end fund. It offers investors exposure to the stocks set to benefit most from Vietnam's very favourable economic prospects. These stocks are otherwise difficult for foreign investors to access. VEIL's managers believe the Vietnamese equity market offers many compelling investment opportunities, and stocks look oversold at current levels (see our recent VEIL update note), so valuations appear attractive. With VEIL's discount on the high side of its long-term average, now may be a good time for investors to consider this market.

There are many reasons why Vietnam represents a significant opportunity for long-term investors. The economy is forecast to continue expanding at an impressive pace. The IMF expects GDP to rise by 5.8% this year, and 6.9% next year, compared to forecast Chinese growth of 5.2% this year and 4.5% in 2024, and VEIL believes this pace of growth will be maintained for many years, supported by favourable demographics, high labour participation rates and rising incomes. Vietnam has also become a manufacturing hub for many global companies seeking to diversify their supply chains.

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