Vietnam Enterprise Investments - Taming the beast

Throughout its over 25-year history, Vietnam Enterprise Investments (VEIL), the largest and longest-established Vietnamese equities closed-end fund, has seen many economic ups and downs. Despite economic growth being held back by the new wave of the COVID-19 pandemic in H221, investment manager Dragon Capital views the setback as temporary. Expecting better pandemic control from Q421 and with economic growth momentum rebuilding, the team looks to 2022 with cautious optimism. The last quarter of 2019 and most of 2020 marked a period of portfolio repositioning for the fund. VEIL is well positioned for longer-term investors looking for an exposure to the fast-developing Vietnamese economy via a relatively large and liquid listed equities fund.