Last checked at 
22 Jun 2023 09:50
Vietnam Holding Limited - Update from QuotedData
22nd June 2023
Building on firmer foundations
Vietnam Holding (VNH) has put in a compelling performance in net asset value (NAV) total return terms versus competing funds investing in emerging Asia (see page 24), but this is not being reflected in its share price. Presently, its share price is at a 13.5% discount to its NAV.
This is despite Vietnam's long-term structural growth drivers remaining intact (see page 7) and a strong outlook for GDP growth over the next five years (the forecast is for an average of 6.7% a year through to 2028).
Within Vietnam, there was a meltdown in the corporate bond market last year, which affected its property sector and, while the Vietnamese government moved to address these issues and stabilised the currency, poor sentiment continues to weigh on the market, which does not seem justified.
VNH's board has been authorising modest share repurchases to provide liquidity to shareholders, taking advantage of the recent high-teens discount (see page 29).
Full Research:
https://quoteddata.com/research/vietnam-holding-limited-building-foundations-qd/
This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.
NB: Marten & Co was paid to produce this note on Vietnam Holding Limited and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
QUOTEDDATA50 Gresham Street | London EC2V 7AYTel: +44 (0) 20 3691 9430
www.quoteddata.com | research@quoteddata.com | www.martenandco.com