Vietnam Holdings Regulatory News (VNH)

VietNam Holding Limited ("VNH" or the "Company")

Monthly Investor Report

A report detailing the activities of the Company for the month of July 2017 has been issued by VietNam Holding Asset Management Limited, the investment manager of the Company. Electronic copies of the report have been made available to shareholders on the Company's website at http://www.vietnamholding.com/publications/investor-reports and a summary of the report is included below.

Investor Report Summary

July was a flat month overall for stocks, the heavily-watched VN-Index grew marginally (+0.9%) and the Vietnam All Share Index (total return basis) down narrowly (-0.5%), with the dong basically unchanged against the dollar. The fund was down 3.34% to an NAV per share of USD 2.776 in the month.

The outlook for Vietnamese stocks remains bright. Even after the VNAS total return basis is 25.0% calendar-year-to-date (the same in dollars given the remarkably stable dong), valuations have not stretched up very much: the VNAS currently sports a trailing PER of only 13.6x, not high in the context of the robust double digit EPS growth the market is experiencing.

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