Reduction of Management Fee

COMPANY ANNOUNCEMENT

For Immediate Release                                    

23 February 2021

Vietnam Enterprise Investments Limited

("VEIL" or the "Company")

REDUCTION OF MANAGEMENT FEE

Following an evaluation of the annual management fee and charging structure, and discussions with the Investment Manager, the Board of Vietnam Enterprise Investments Limited wishes to announce a reduction in fees. 

With effect from 1 July 2021, the management fee will be amended to 1.85% per annum of Net Asset Value ("NAV") for the first US$1.25 billion of the Company's NAV, reducing to 1.65% per annum for NAV between US$1.25 billion and US$1.5 billion and further reducing to 1.50% per annum for NAV above US$1.5 billion. The Investment Manager is not entitled to a performance fee.

Stanley Chou, independent non-executive chair of the Company, commented:

"Over more than 25 years, Vietnam Enterprise Investments Limited has offered its investors access to one of the most exciting and dynamic markets in South East Asia. Since the inception of the Vietnamese stock market in 2000, VEIL has delivered a 20-year USD net CAGR of 11.9% (Source: Dragon Capital). This demonstrates that VEIL has represented good value to its long-term holders and we hope VEIL will continue to deliver value to our investors going forward."

Enquiries:

Vietnam Enterprise Investments Limited

Rachel Hill

Phone: +44 122 561 8150
Mobile: +44 797 121 4852

[email protected]

Jefferies International Limited                          

Stuart Klein

Phone: +44 207 029 8703

[email protected] 

Smithfield                                                            

George Yeomans

Phone: +44 20 3047 4065

[email protected]

VEIL's LEI code is 213800SYT3T4AGEVW864