Vietnam Holdings Ltd (LON:VNH) has continued to outperform the countrys local stock indices in the month of July, while the fund has also revealed a strong grade of AA*A from its latest Principles of Responsible Investment (PRI) assessment, a UN-backed network of investors promoting sustainable investing.
In its report for July, the fund reported a net asset value (NAV) of 173.3p per share, 2.1% lower month-on-month but better than the equivalent performance of the Vietnam All-Share Index which was down 3.6% in the same period. The companys NAV is also at a 16% premium to its last closing price on Thursday of 149p.
WATCH: VietNam Holding's Craig Martin says country's credibility is increasing with investors[hhmc]
The companys investment manager, Dynam Capital Limited, said the firms outperformance during the month had been boosted by some profit taking in software and IT services firm FPT, the largest holding in VNHs portfolio, by reducing its stake to 12% from 15% and selling a 20% premium to the market price.
Looking ahead, Dynam said despite falls in the equity markets, it saw “signs of bottoming out and recovery in Vietnam's economy”, and that despite the recent emergence of new coronavirus cases in the city of Da Nang there Read More – Source
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