12 Mar 2020 10:20
For immediate release
VietNam Holding Limited ("VNH" or the "Company")
Estimated Daily Net Asset Value (NAV)
The Fund's NAV per share declined by 5.4% today, and the Vietnam All Share Index fell by 5.0%. The market reacted negatively as the World Health Organisation declared COVID-19 to be a global pandemic, and the US imposed travel restrictions on people from the European Union. Another five cases of COVID-19 were confirmed in Vietnam yesterday. The temporary closure of one of Mobile World's retail stores due to a COVID-19 infection (announced yesterday) contributed to a broader sell-off in the retail sector today. Several of the Fund's holdings in the sector were hit hard today, and many fell to their one-day limit of 7%, including Phu Nhuan Jewelry (PNJ), Mobile World Group (MWG) and Vincom Retail (VRE).
The Company announces that, at its close of business on 12 Mar 2020 its Estimated NAV was USD 112.4 million or USD 2.210 per share and GBP 87.9 million or GBP 1.729 per share (GBP/USD = 1.2784).
Change in position as at 12 Mar 2020:
NAV per share (USD) | Vietnam All Share Index (USD) | |
Daily | -5.4% | -5.0% |
Calendar month-to-date | -12.5% | -12.3% |
Calendar year-to-date | -20.3% | -18.0% |
5-year CAGR | 1.0% | 2.1% |
10-year CAGR | 4.3% | 0.5% |
Daily performance is calculated by reference to the previous day NAV/share and VNAS (Vietnam All Share Index). Calendar month-to-date performance is calculated by reference to NAV/share and VNAS as at 28 Feb 2020. Calendar year-to-date performance is calculated by reference to NAV/share and VNAS at the previous calendar year end (31 Dec 2019). 5-year CAGR (compound annual growth rate) is calculated by reference to NAV/share and VNAS as at 12 Mar 2015. 10-year CAGR is calculated by reference to NAV/share and VNAS as at 12 Mar 2010. VNAS is sourced from Bloomberg, which uses back-tested positions for VNAS for before 27 Jan 2014 as released by HoSE (Ho Chi Minh City Stock Exchange).
The Estimated Daily NAV stated in this announcement is based on estimated valuations and accordingly the Company accepts no responsibility for the accuracy of the Estimated Daily NAV figure given, and neither is any responsibility implied. The actual month end NAV in any month may vary from the Estimated Daily NAV provided in the relevant month. Accordingly, no reliance should be placed on the Estimated Daily NAV and it has been provided for indicative purposes only.
More information on the Company is available at www.vietnamholding.com
Craig Martin
craig@dynamcapital.com
Tel.: +84 28 38277 590
Dynam Capital Limitedhttps://www.dynamcapital.com
Vietnam Holdings (VNH)