Vietnam Enterprise Investments - Robust growth underpins long-term opportunities

Vietnam Enterprise Investments (VEIL) is the largest and longest-established closed-end fund focused on investing in Vietnamese equities. The fund aims to deliver long-term capital growth through employing a rigorous bottom-up approach to investing in a relatively concentrated portfolio of 35–40 high-conviction stocks. Over the past 10 years, VEIL has generated annualised NAV and share price returns of 10.3% and 14.0%, respectively. Better than expected Q319 GDP growth of 7.3% suggests Vietnam’s economy is relatively resilient in an environment of slowing global economic growth, which has been exacerbated by a trade recession triggered by the US-China trade dispute. Furthermore, the manager is finding plenty of exciting long-term investment opportunities in Vietnam.