London, UK, 20 December 2017
Edison issues review on Vietnam Enterprise Investments (VEIL)
Vietnam Enterprise Investments (VEIL) was launched in 1995 and is the largest and longest established, closed-ended investment company, which is focused on Vietnam listed equities. VEIL is listed on the LSE and became a member of the FTSE 250 in July 2017. It has a capital growth objective, managed by an experienced and well-resourced investment team, following a disciplined bottom-up, fundamental approach to stock selection, resulting in a portfolio of c 35-40 holdings. Although Vietnam equities have performed strongly over the past two years, the manager believes the government's pipeline of privatisations and divestments over the next two years offers excellent investment opportunities, which could continue to attract foreign and domestic investors.
VEIL's share price trades at a 15.5% discount to NAV, narrower than its three-year average of 16.8%, having ranged from 7.8% to 24.2% over the period. The company has the ability to manage the discount for its shares through repurchases.
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