IES Holdings Ltd.

Report Publication Announcement • Sep 18, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 1044B

VietNam Holding Limited

18 September 2018

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

Monthly Investor Report

A report detailing the activities of the Company for the month August 2018 has been issued by Dynam Capital 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

A strong month for Vietnam - despite EM woes

Despite the poor performance in Emerging Markets generally in August, Vietnam was a relatively strong and stable market, and as a result, in a period in which the MSCI EM Index fell 2.9%, the Fund's NAV per share increased 3.0%.  The global news continued to be dominated by Trade War and threats of further tariffs on China. Vietnam was identified again as a potential beneficiary of such a trade war. The worry remains, however, that if the Chinese Renminbi is devalued by policy measures during a trade war, the VND would see further weakness.

We think the way to navigate the Vietnam opportunity is through a carefully constructed portfolio of mid-cap growth stocks. The risks in the market need to be rewarded by prospects for growth in underlying earnings and re-ratings.

The focus for the Investment Manager, since taking over the portfolio management in mid-July, has been on rebalancing the portfolio, creating some liquidity to fund the ongoing share buyback mandate, and reviewing potential small and mid-cap opportunities to add to over the next few months.

Dynam is hosting an investor meeting in Ho Chi Minh City, Vietnam on Wednesday 10th October. For details, or to reserve a spot, please contact us.

For more information please contact:

Dynam Capital Management Limited                  

Craig Martin

+84 28 3554 2561

info@dynamcapital.com

www.vietnamholding.com

finnCap

Nominated Adviser and Corporate Broker                                          Tel: +44 20 7220 0500      

William Marle / Giles Rolls

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DOCSFFSUAFASEEU